US Strikes Iran, Hormuz Tensions Rise
The United States launched another wave of military strikes against Iran on Wednesday morning (July 15th). These strikes targeted Iranian military capabilities that are said to be used to attack commercial shipping in the Strait of Hormuz, one of the world's most important energy arteries.
According to U.S. Central Command (CENTCOM), the strikes began at 6:00 a.m. ET. This move came hours after President Donald Trump warned that military action would escalate if Tehran refused to return to peace talks.
Trump said his administration had been in contact with Iranian officials on Tuesday. However, he emphasized that attacks on Iran would continue until an agreement was reached. In an interview with Fox News, Trump even said Iran must quickly reach a deal before losing more strategic assets.
Tensions also escalated after Trump raised the possibility of further attacks on Iran's nuclear infrastructure, including Pickaxe Mountain. When asked about Kharg Island, Trump said energy targets would be saved for the final stage but could still be attacked if the situation continued to deteriorate.
At the same time, CENTCOM reimposed a naval blockade on Iran. Trump previously stated that the Strait of Hormuz would remain open to all shipping traffic, except for vessels linked to Iran. However, Tehran has denied this claim and continues to attack commercial vessels around Hormuz.
Impacting the market, this escalation could keep oil prices high due to the increasing risk of supply disruptions in the Strait of Hormuz. If the conflict continues to escalate and impact energy infrastructure, global inflationary pressures could rise again. This situation has the potential to support the dollar as a safe haven, suppress riskier assets, and keep gold volatile. (arl)
Source: Newsmaker.id
