Iran retaliates against US strikes with missile and drone threats; oil prices spike 6% amid escalating Middle East tensions.
Macro & Markets ·
Iran announced retaliation against recent US strikes near the Strait of Hormuz, stating it would target American bases and interests in the region including Bahrain and Kuwait with missiles and drones. US oil prices rose 6% following the escalation, as President Trump warned Iran would face harder strikes if it proceeded with retaliation.