The United States and Iran traded their heaviest strikes since July, with U.S. forces hitting Iran's southern coast and Iran firing at American bases across the Gulf. Iran says a wedding party was among the casualties, while stocks fell in Asia and Europe and oil stayed volatile.
The United States and Iran exchanged their biggest barrage of fire since July on Tuesday, reviving fears that the war between the two could return at full force. U.S. forces struck air defenses, radar systems, maritime assets, mine-laying capabilities and communications sites along Iran's southern coast, while Iran fired on American bases across the region.
Iran said the strikes killed four people, including a 4-year-old, at a wedding celebration in Sirik County, and Iranian media reported as many as 68 people wounded there. Iran's health minister said the latest wave of U.S. strikes had killed 18 people in total and wounded 108, though Reuters said it could not independently verify the wedding incident. According to Reuters: "The U.S. military never targets civilians, unlike the IRGC," U.S. Navy Captain Tim Hawkins, a Central Command spokesperson, said.
Iran Strikes Bases Across the Gulf
Iran said it struck U.S. assets in Bahrain, Jordan, Kuwait and Iraq, aiming to push American forces out of the region. In Kuwait, Iran carried out a missile and drone attack on the Ali Al Salem Air Base and targeted a U.S. commander's quarters, while Kuwait's fire service put out a blaze at a residential complex hit by a drone. Iran also said it killed U.S. forces in Jordan and at a base in northern Iraq, but U.S. officials told Reuters there had been no casualties in initial assessments.
Qatar held Iran responsible for the attacks, and Bahrain said it intercepted and destroyed Iranian drones.
Oil Stays Volatile as Tankers Are Struck
Asian and European stocks tumbled after the strikes, though Wall Street opened higher as investors focused instead on AI developments. Oil prices were only marginally firmer in a volatile session that had earlier seen them hit levels not reached since July, amid concerns over the impact of the war on the global economy.
Iran said two tankers were struck by mines while being steered through the Strait of Hormuz by U.S. personnel. Even so, Energy Secretary Chris Wright said more than 17 million barrels of oil exited the strait on Monday. Iran has blacklisted 11 more ships, bringing the total to 56 vessels it says are subject to fines, confiscation or detention if they try to pass without its permission.
Economic Pressure Mounts on Tehran
Treasury Secretary Scott Bessent said Washington was looking at targeting airlines, the maritime industry and digital assets to increase economic pressure on Iran. Iran's currency has dropped to a record low of more than 2.2 million rials per U.S. dollar, losing about 10% in the past week alone.
Sources told Reuters that Trump aides are trying to keep the war quiet ahead of November's congressional elections, as polls show Americans oppose the war by more than a two-to-one margin.
Source: Investing.com
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