Iran launches missile and drone attacks in response to US strikes

Live coverage of the ongoing conflict between Iran and the United States will conclude momentarily. However, ABC will persist in delivering updates as they arise. The Iranian Revolutionary Guard Corps (IRGC) claims their ground forces launched combined missile and drone assaults on US bases in Erbil, Iraq, causing significant damage to facilities.

The US, in response, carried out air strikes against Iranian targets in Gulf states, escalating tensions in a conflict that has already impacted global energy prices. Initial reports from the US suggest 17 million barrels of oil transited the Strait of Hormuz, the highest level in nearly a year. Yet, other data indicates only a few vessels passed through the strait, with none being oil tankers.

Oil prices surged to a two-month high of $US95.26 per barrel, potentially causing a significant drop in the Australian share market. Both nations have differing accounts of casualties, with Iran alleging US troops were killed in strikes on Jordanian bases, while the US denies any casualties. Analysts warn of a potential economic downturn due to ongoing disruptions in energy trade.