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Iran's Islamic Revolutionary Guard Corps launched missile and drone attacks on multiple US military targets across the Gulf region. This retaliation for recent American strikes raises fears of a wider conflict and has sent oil prices surging, with potential to hit $150 per barrel.
Tensions in West Asia have sharply escalated following ballistic missile and drone attacks launched by Iran's Islamic Revolutionary Guard Corps (IRGC) on multiple US military targets across the Gulf. This action is a direct retaliation for recent American strikes inside Iranian territory.
IRGC Claims Widespread Strikes
The IRGC stated it targeted approximately 18 military sites, including US bases and fighter jet deployments in Jordan, Kuwait, and Bahrain. These strikes followed overnight operations by US forces on Iranian targets, including locations near Tehran. The IRGC claims 12 ballistic missiles struck Jordan's Al-Azraq Air Base, allegedly destroying several US fighter aircraft, though official confirmation from US or Jordanian authorities is pending. Attacks were also reported against two air bases in Kuwait and one in Bahrain, including the headquarters of the US Fifth Fleet.
Energy Markets Reel
Global energy markets reacted swiftly to the news. Oil prices jumped more than $2 per barrel after Iran announced the complete closure of the Strait of Hormuz, a critical global oil shipping route, in response to perceived US "aggression." Energy research firm Rystad Energy forecasts that crude oil prices could surge to as high as $150 per barrel if the conflict intensifies. The firm estimates that around 11.8 million barrels per day of oil production across six Gulf countries are now at risk, representing a significant supply shock.
Indian Nationals Affected
In a related development, the US Central Command confirmed striking an oil tanker in the Gulf of Oman for the second consecutive day. The vessel carried 24 Indian nationals. India's Ministry of External Affairs reported that three Indian citizens remain missing, with search and rescue operations ongoing. This latest escalation intensifies concerns over a broader regional conflict and potential disruptions to global oil supplies.