A US missile reportedly struck Iran’s Qeshm Island on Thursday, and President Donald Trump has told Axios he is nearing a decision on a large-scale attack on Tehran. The escalation drove Brent crude above $100 a barrel and knocked US equities lower.
A US missile reportedly struck a coastal area near Suza on Iran’s Qeshm Island on Thursday, according to Iran’s semi-official Tasnim news agency. The strike hit at about 6:50 pm, caused damage and prompted an investigation, marking a significant escalation in tensions between the United States and Iran.
Trump nears a decision on a larger strike
Trump told Axios he is close to deciding on what he called a “massive attack” on Iran, one that would exceed the scope of the earlier Operation Epic Fury. He stressed that no order has been given and no final authorization made, and US officials said no decision had been reached.
He said Israel would join within two minutes if asked, but that the United States does not need Israeli participation to act. He also warned on Truth Social that further Houthi attacks on shipping would draw major military punishment on both Iran and the Houthis, holding Tehran responsible.
Oil jumps and stocks slide
The escalation pushed up oil prices. Brent crude climbed above $100 a barrel, trading near $100.88, while WTI crude rose 6.75% to $92.67.
That buildup follows nearly two weeks of conflict centered on attacks against commercial shipping in the Strait of Hormuz. Iran-backed Houthi rebels have extended their strikes into the Red Sea, targeting Saudi shipping along another critical energy corridor.
US equities also fell, with the Nasdaq dropping about 700 points, or 2.71%. On diplomacy, Trump said Iran still wants to negotiate but has not yet faced enough pressure to force a breakthrough.
Sources: Crypto Briefing (snippet-based), investingLive
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