Iran's Revolutionary Guard says it will punish the aggressor after a two-hour U.S. strike hit dozens of Iranian targets early Thursday, retaliation for intercepted Iranian missile attacks on American forces. Egypt separately reported a drone attack on two ships at its Damietta port as strikes on regional energy infrastructure widen, and oil prices jumped on fears of a prolonged conflict.
Iran's Revolutionary Guard said Thursday it "will punish the aggressor today," according to Iranian state media. The threat followed a two-hour wave of U.S. strikes overnight that hit dozens of Iranian targets, in retaliation for intercepted Iranian missile attacks on American forces earlier this week.
The Guard also said countries assisting the United States would face consequences, and that it maintains full control of the Strait of Hormuz, warning that outside powers would not be allowed to interfere.
U.S. hits dozens of Iranian targets in retaliation
U.S. Central Command said the strikes responded to Tuesday's attempted Iranian missile attacks on American forces in the Middle East, all of which were intercepted. The strikes hit Guard military command centers, missile and drone facilities, coastal surveillance sites and maritime capabilities across Iran, Centcom said.
Jordan's armed forces separately said its air defenses intercepted five missiles launched from Iran during Tuesday's attack.
Energy infrastructure attacks widen across the region
Egypt said Thursday a drone hit two ships at its Mediterranean port of Damietta, sparking fires on a regasification vessel and a storage vessel, according to the country's Ministry of Petroleum. Nobody has claimed responsibility for the attack.
The unclaimed strike came as Iran, its Houthi allies in Yemen and Iraqi militias have widened attacks on energy infrastructure across the region. U.S. and Saudi forces had launched joint strikes Tuesday against Iran-allied militias in Iraq that had targeted oil facilities in Riyadh and Saudi Arabia's Eastern region, while Yemen's Houthis claimed attacks on Saudi pipeline infrastructure feeding the Red Sea export terminal at Yanbu.
Oil prices jump on fears of prolonged conflict
This resumption of strikes marks the latest turn in a conflict that has whipsawed crude oil markets and disrupted shipping through the Strait of Hormuz. The conflict has raged since fighting erupted in late February. The U.S. had paused two weeks of strikes on Iranian targets last weekend as diplomats sought space for peace talks.
Trump's warning of heavy strikes ahead sent Brent crude futures 7.9% higher to close at $90.74 a barrel Wednesday. West Texas Intermediate futures also advanced 6.6% to settle at $84.46 that day.
The rising tensions are dampening hopes for a swift de-escalation in the Persian Gulf, said Warren Patterson, head of commodities strategy at ING Bank. He said targeting Saudi oil infrastructure raises the risk of prolonged supply disruptions, citing reports that Saudi Arabia's 400,000 barrel a day Jazan refinery had been shut following Houthi attacks over the weekend.
OPEC+ is expected to announce a supply increase of 188,000 barrels per day for September at its Aug. 2 meeting, completing the unwinding of 1.65 million barrels a day of voluntary cuts, Patterson said.
Tanker traffic through the Strait of Hormuz has effectively halted after Iran rejected an Omani proposal to share control of the waterway, demanding oversight of inbound shipping and partial control over outbound lanes.
Sources: International: Top News And Analysis, US Top News and Analysis
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