Tensions spike as U.S.-Iran exchanges threaten shipping and oil markets

Renewed U.S.-Iran hostilities saw Tehran vow 'dozens of times greater' retaliation after U.S. strikes on launchers on Larak Island, threatening shipping through the Strait of Hormuz. Iran then attacked U.S. bases in Jordan; CENTCOM disputed Iran's mine strike claim as markets eyed higher oil prices and inflation risk. U.S. officials signaled further sanctions, while Trump intensified bellicose rhetoric via Truth Social and AI-generated threats regarding Kharg Island. The cycle of strikes and warnings underscored a fragile regional security situation and potential impact on global markets.