US completes fresh strikes on Iran; oil prices jump over 4% on Hormuz supply fears
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The US Central Command (CENTCOM) today said it has completed a fresh wave of offensive strikes against Iran, targeting dozens of military sites to degrade Tehran's ability to attack international shipping through the Strait of Hormuz, sending global oil prices up more than 4% on Monday amid renewed concerns over energy supplies.
In a statement, CENTCOM said the July 12 operation struck dozens of targets across multiple locations in Iran using precision munitions. The attacks targeted Iranian air defence systems, coastal radar sites, missile and drone capabilities, and small military boats. The operation also marked the first use of one-way attack sea drones alongside fighter aircraft, naval vessels and aerial drones in strikes against Iran.
Following the announcement, Brent crude futures climbed $3.10, or 4.08%, to $79.11 a barrel, while US West Texas Intermediate (WTI) crude gained $2.95, or 4.11%, to $74.36 a barrel as traders priced in the risk of supply disruptions in the Gulf.
CENTCOM said the operation was aimed at weakening Iran's capability to continue attacking commercial shipping through the Strait of Hormuz, a vital maritime route that carries nearly one-fifth of global oil and liquefied natural gas trade. The US military added that its forces remain prepared to ensure freedom of navigation despite what it described as Iran's continued aggression and threats.
Iran condemns the attacks
Iran, however, strongly condemned the strikes, calling them a "flagrant violation" of the UN Charter and accusing Washington of undermining regional stability and breaching a ceasefire agreement. In a statement, Iran's Foreign Ministry warned that any country allowing its territory or military facilities to be used for attacks against Iran could be regarded as the source of aggression and become a legitimate target for Iranian defensive operations.
The ministry also rejected remarks attributed to US President Donald Trump regarding recent talks in Muscat, calling them "a complete lie." According to Tehran, the discussions were limited to arrangements concerning the management of the Strait of Hormuz and the security of international shipping routes.
Iran further criticised the United Nations Secretariat for what it described as an inadequate response to the US military action and urged the UN Secretary-General and the UN Security Council to hold Washington accountable, reiterating that the strikes violated international law and the UN Charter.
The latest escalation came after Iran's Revolutionary Guards claimed they had attacked US military bases in Kuwait and Bahrain, raising fears of a wider regional conflict. Shipping activity has already slowed, with ship-tracking firm Kpler reporting that only six vessels passed through the Strait of Hormuz on Sunday, the lowest number in five weeks, underscoring growing concerns over global energy supplies.