US strikes new targets in Iran, Tehran retaliates across the Middle East

The US launched extensive airstrikes against Iran following President Donald Trump's announcement that he would re-establish the blockade in the Strait of Hormuz. US Central Command (CENTCOM) announced that it targeted Iranian defense systems, missile and drone facilities in regions such as Abu Musa, Bandar Abbas, Bushehr, and Chabahar. Trump characterized these strikes as "another massive attack," claiming that all of Iran's attack capabilities had been neutralized.

In response to the US attacks, Iran launched attacks on two oil tankers belonging to the United Arab Emirates (UAE) passing through Bahrain, Jordan, and the Strait of Hormuz. In these retaliatory attacks, one sailor was killed while eight people were injured. UAE officials warned Iran about retaliating, increasing concerns that tensions between the two countries could escalate.

This military escalation directly affected global oil prices, pushing the price of Brent crude to $84 (73.6 euros) per barrel and raising risks of increasing energy costs worldwide. Furthermore, the US plan to collect a 20 percent customs tax from ships passing through the Strait of Hormuz signifies a radical change in the maritime navigation freedom policies maintained for decades. Despite this, Trump stated that he still believes a deal with Tehran is possible and that Iran wants to negotiate.