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Source: Newsmaker.id
The United States has launched a new wave of attacks against Iranian targets in the vicinity of the Strait of Hormuz. This action extends the cycle of retaliatory strikes between the two nations following a period of relative calm lasting several weeks.
US Central Command stated that the strikes targeted Iranian Revolutionary Guard assets in response to Tehran's attacks on commercial vessels and American forces in the region. Explosions were reportedly heard in Bandar Abbas and Chabahar, in southern Iran.
Oil prices surged again following the news, with WTI approaching US$90 per barrel. Prior to the renewed flare-up in the conflict, oil shipments through Hormuz had recovered to about half of pre-war levels via covert shipping operations by several Middle Eastern producers.
This latest escalation follows reports that two supertankers attempting to exit the Strait of Hormuz were struck by projectiles. The previous day, the US had attacked Iranian rocket launchers reportedly preparing to deploy mines, while Iran retaliated by targeting the United Arab Emirates and Jordan.
Newsmaker Analysis: A prolonged conflict could once again disrupt shipping through Hormuz, drive oil prices higher, and intensify global inflationary pressures. Such conditions could heighten expectations for interest rate hikes, bolster the US dollar, and weigh on stock markets. Gold prices might face pressure from rising yields but continue to find support from safe-haven demand. (arl)
Source: Newsmaker.id