The past 24 hours have witnessed a dramatic escalation in the Israel-Iran conflict, with the United States launching a significant military operation against Iranian nuclear facilities. On Saturday night, American B-2 Spirit stealth bombers and submarines targeted three key sites: Fordo, Natanz, and Isfahan. This marked the first direct US military action against Iran since earlier Israeli strikes in June, significantly raising global tensions.
The attacks followed a series of escalating actions between Israel and Iran, beginning with a preemptive Israeli strike on June 13th that targeted key Iranian military figures and nuclear scientists. Iran swiftly condemned the US strikes, calling them “outrageous” and vowing “everlasting consequences.” The Iranian parliament even voted to close the strategically vital Strait of Hormuz, a move that would severely disrupt global oil supplies.
US President Donald Trump announced the operation on Truth Social, declaring the attack a success and calling for peace. The International Atomic Energy Agency (IAEA) immediately convened an emergency meeting of its Board of Governors to discuss the situation, while the UN Security Council also met, with Russia, China, and Pakistan pushing for an immediate ceasefire.
China, Iran’s largest oil customer, strongly condemned the US actions, highlighting the international condemnation of the attack. While US officials insisted the strikes weren’t intended to instigate regime change, President Trump himself alluded to that possibility on Truth Social, sparking further uncertainty.
The news of the strikes sent oil prices soaring, jumping over 2% and continuing to rise. Brent crude approached $80 a barrel, and West Texas Intermediate neared $75, fueled by fears of the Strait of Hormuz closure. US Secretary of State Marco Rubio urged China to prevent Iran from closing the Strait, a crucial chokepoint for global oil transport, highlighting the potential for significant economic ramifications.
The world now awaits Iran’s response. Iranian Foreign Minister Abbas Araghchi stated that Iran “reserves all options,” while Deputy Foreign Minister Majid Takht Ravanchi indicated that the country would continue its uranium enrichment program. Analysts offer differing perspectives on the potential consequences. Some believe that a limited Iranian response might lead to a quick de-escalation and market recovery, while others warn that more aggressive actions could trigger further escalation and sustained market volatility.
The risk of the Strait of Hormuz closure remains a key concern, although energy experts suggest that such a move would be self-destructive for Iran, potentially alienating its major trading partners and causing significant harm to its own economy. The coming days will be critical in determining the next steps in this volatile situation and its global impact.
