Iran's Guards struck US bases in Bahrain, Kuwait, Jordan, and Oman, closing the Strait of Hormuz. Brent crude rose 4.3% to $79.31. The escalation threatens the ceasefire and global oil flows.
Alpha Score of 40 reflects weak overall profile with weak momentum, poor value, weak quality, weak sentiment.
Iran's Revolutionary Guards struck US military facilities in Bahrain, Kuwait, Jordan, and Oman on Monday and said they had closed the Strait of Hormuz again. Brent crude futures (BZ=F) jumped 4.3% to $79.31 a barrel.
The barrage marked a widening of the conflict that began in late February. Iran targeted fuel tanks and ammunition depots at Prince Hassan Air Base in Jordan, destroyed radar systems in Oman, and hit facilities in Bahrain and Kuwait, the Guards said in a statement.
The US military said it struck Iranian air-defense systems, coastal radar sites, missile and drone capabilities, and small boats using aircraft, naval vessels and drones on Sunday. US Central Command said more than 300 Iranian targets had been hit over three nights.
The renewed violence casts doubt on the interim US-Iranian agreement signed last month. That deal aimed to reopen the strait and end the war after 60 more days of negotiations. US President Donald Trump said on Sunday he considers the ceasefire over but left the door open to more talks.
Iran's top negotiator, Mohammad Baqer Qalibaf, posted on X: "The era of one-sided deals is OVER. We told you: keep your word or pay the price."
The Guards warned that continued US interference could lead to "greater incidents in the global oil and gas sector." They said the only way to restore regular shipping was to end US military interventions in the waterway.
Higher oil prices are politically sensitive for Trump ahead of November's congressional elections. Brent crude remains well below its peaks from earlier in the war. For a deeper look at oil price drivers, see the crude oil profile.
US officials said around 20 vessels had been escorted through the strait in the previous 24 hours. Ship tracking sites showed little traffic moving. Iran has sought to establish a permanent fee system for the strait, which carried one-fifth of the world's oil and LNG before the war.
The US revoked a license that waived sanctions on Iranian crude sales on Tuesday after earlier attacks on shipping. The US Navy-led Joint Maritime Information Center said an expanded southern route near Oman was available for two-way traffic.
Iran's Persian Gulf Strait Authority said passage was not currently possible due to "recent illegal movements of the United States military forces." Permits would be issued when stability is restored.
The US said its forces were positioned to safeguard freedom of navigation. "Iran does not control the strait. Traffic is flowing," it said.
The cycle of strikes and counter-strikes shows no sign of abating. For broader commodity market analysis, visit the commodities analysis page.
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