Iran Strikes 5 Gulf Countries as Regional Escalation Continues
Iran has opened a new front across the Gulf, striking countries that host U.S. forces and sit beside the oil, gas, and shipping infrastructure sustaining the global energy system. Qatar, Bahrain, Kuwait, Oman, and Jordan all reported Iranian missile or drone activity on Sunday after the United State
Source: OilPrice.com
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DW NOTE
Iran launched strikes across five Gulf states in an escalation that should send oil sharply higher — except WTI is up 3.8% to $74, still 36.8% below its one-year high, because the Strait of Hormuz has been partially blocked since February and traders have already priced in regional war. The real risk is that this closes the strait entirely; daily transits had just fallen from 51 to 24 this week even with the ceasefire nominally in place.