Global energy markets have been disrupted once again after the United States military launched a fresh wave of air strikes against targets in Iran. The action followed intense clashes in the Strait of Hormuz that left several Western allies in the Gulf under fire.
The renewed fighting has threatened to dismantle a temporary diplomatic agreement between Washington and Tehran. The conflict has caused significant volatility in international markets since it began earlier this year.
According to United States Central Command, the latest military operation began late on Sunday evening. This followed a massive campaign of approximately 140 strikes conducted the previous night.
Iranian state broadcasters reported that American forces targeted multiple locations across the southern and western regions of the country. The strikes hit key maritime areas, including Qeshm Island, Bandar Abbas, and the oil-rich province of Khuzestan near the Iraqi border.
Energy markets reacted immediately to the escalation. Crude oil futures rose by more than 3.5 per cent when trading opened in Tokyo on Monday morning. The American benchmark, West Texas Intermediate, climbed well above 74 dollars a barrel, reversing a recent downward trend.
The escalation began on Sunday morning when an attack on a commercial container ship flying the Cyprus flag forced its crew to flee as the vessel caught fire. Indian officials confirmed that one sailor from the country went missing during the incident.
Following the ship attack, the Iranian Revolutionary Guards declared that the Strait of Hormuz would remain closed to all maritime traffic until American forces withdrew from the region. A senior adviser to the supreme leader of Iran highlighted the strategic value of the waterway, stating it held more leverage than an arsenal of atomic weapons.
However, United States military commanders challenged this declaration on social media. Officials stated that the shipping lane remains open to all lawful vessels and that American forces are fully prepared to maintain freedom of navigation in the region.
The violence quickly spread across the wider area on Sunday night. Kuwait reported that three of its northern border posts suffered damage and an offshore oil drilling platform was hit by a hostile drone, leaving one worker injured.
Regional authorities also reported that missiles and drones triggered alerts in Qatar, Bahrain, Jordan, and the United Arab Emirates. Oman summoned the Iranian ambassador to deliver a formal protest after its territory was targeted, representing a notable diplomatic shift for a nation that usually remains neutral.
International mediators have urged both sides to return to the negotiating table. The top diplomat for Pakistan, Foreign Minister Ishaq Dar, held emergency telephone talks with his counterpart in Tehran to call for immediate de-escalation.
United Nations Secretary-General Antonio Guterres also released a statement through his spokesperson, demanding an immediate halt to the attacks to prevent a wider regional crisis.
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