US-Iran war: US strikes Iranian rocket launchers on Strait of Hormuz in first military action in weeks

On Sunday, US forces carried out the first known military action against Iran in over a month, striking two Iranian rocket launchers on Larak Island in the Strait of Hormuz. This marked a return to hostilities following a six-month lull in the conflict. In response, Iran promptly fired on US bases in Jordan, prompting the US to call the attack a "deadly attack" and vow retaliation against those responsible.

This escalation occurred as the Trump administration had been shifting focus from military action to economic pressure, with Treasury Secretary Scott Bessent announcing weekly sanctions on banks engaging in business with Iran. President Trump had previously threatened to "hit Iran hard" following missile strikes on US bases.

The strike on Larak Island was described as limited and precise, targeting launchers preparing to deploy sea mines in the strategic waterway. Despite the US's assertion, Iran's state media denied responsibility and stated that Kharg Island, Iran's primary oil export hub, had been destroyed by the strikes. However, the White House and Pentagon denied any attack on Kharg Island, and US officials identified the video showing explosions as likely AI-generated.

Oil prices saw a slight increase following the news of the strike, with Brent crude climbing 1.23% to $89.18 per barrel and US West Texas Intermediate crude rising 1.10% to $84.32 per barrel. The Strait of Hormuz, a critical trade route, saw a decrease in shipping activity, with only about five vessels crossing daily during the weekend.