The new U.S. military operations against Iran have sharply increased regional tensions, causing a spike in oil markets. On the first trading day of the week, Brent crude futures rose more than 4.2% to reach $79.2. U.S. crude oil prices also climbed 4.3% to $74.5.
The U.S. Central Command (CENTCOM) announced on Sunday that it had launched additional strikes against Iran. In a post on social media platform X, CENTCOM claimed these strikes aim to 'degrade Iran's ability to attack commercial vessels transiting the Strait of Hormuz.'
Iran's state media, meanwhile, reported hearing explosions in the cities of Qeshm Island, Jask, Sirik and Bandar Abbas, all in the southern Hormozgan province. According to data compiled by Anadolu Agency from official sources, Iran's missile and drone attacks since Sunday have targeted Qatar, the UAE, Kuwait, Bahrain, Oman and Jordan. The Tehran government argued that these operations were carried out in response to U.S. strikes and targeted sites where U.S. forces are stationed in the region.
Last June, Washington and Tehran, with Qatar and Pakistan mediating, signed a memorandum of understanding that laid the groundwork for a final agreement to end the war. However, U.S. President Donald Trump announced on July 8 that the ceasefire had ended due to escalating tensions.