Iran Strikes US Bases Across Gulf, Declares Hormuz Strait Closed as Oil Prices Jump

Iran and the United States have engaged in a significant escalation of military conflict, with Tehran launching missile and drone attacks on U.S. facilities across the Gulf and again declaring the vital Strait of Hormuz closed. The heightened geopolitical risk sent global oil prices sharply higher on Monday, according to reports from Reuters.

Escalating Strikes Rattle Region

In a statement on Monday, Iran’s Revolutionary Guards claimed responsibility for a wide-ranging barrage of attacks. The targets reportedly included U.S. military facilities in Bahrain and Kuwait, radar systems in Oman, and fuel and ammunition depots at Prince Hassan Air Base in Jordan.

The U.S. military said it conducted its own operations on Sunday, striking numerous Iranian military assets. U.S. Central Command reported hitting 140 Iranian military targets over the weekend and more than 300 targets over three nights, aiming to degrade Iran's ability to attack shipping in the strait. The strikes, which involved aircraft, naval vessels, and drones, targeted air-defense systems, coastal radar, and missile capabilities.

Oil Prices Surge on Hormuz Tensions

The direct conflict in one of the world's most critical energy chokepoints immediately impacted commodity markets. Brent crude climbed 4.3% to reach $79.31 a barrel on Monday, reflecting investor fears over a prolonged disruption to global oil supplies. Before the war, the Strait of Hormuz was the transit point for about one-fifth of the world's oil and liquefied natural gas shipments.

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Iran stated late Saturday it had closed the waterway after firing on a vessel. A newly created Persian Gulf Strait Authority said Sunday that passage was "not currently possible" and that permits would be issued once stability was restored. However, the U.S. military contested this claim, with the Navy-led Joint Maritime Information Center stating that "Traffic is flowing" via an expanded southern route near Oman, despite a severe security threat.

Diplomatic Efforts in Doubt

This latest cycle of attacks casts serious doubt on an interim U.S.-Iranian agreement signed last month, which was intended to reopen the strait and de-escalate the conflict. In a brief phone interview with Reuters on Sunday, U.S. President Donald Trump commented on the weekend's strikes, saying, "We’re beating them up."

Echoing the hardened stance, Iran’s top negotiator, Mohammad Baqer Qalibaf, posted on X on Sunday, stating, "The era of one-sided deals is OVER. We told you: keep your word or pay the price." Iran's Revolutionary Guards warned that continued U.S. military intervention "could lead to greater incidents in the global oil and gas sector."