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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
In a move reflecting a sharp deterioration in regional stability, Iran has targeted US military bases in Jordan and the Gulf region. This military escalation came in response to previous strikes ordered by President Trump near the Strait of Hormuz. Reports confirm that these actions represent a direct retaliation for US operations in the strategic waterway.
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Sign InThis direct confrontation raises market fears regarding global energy supply disruptions, as approximately 20% of global oil consumption passes through the Strait of Hormuz according to US Energy Information Administration (EIA) data. Looking at safe-haven assets, gold and oil prices typically see sharp increases under these conditions, as seen in previous tensions where crude prices jumped by over 4% in similar sessions (per Bloomberg data).
Investors should monitor the upcoming US response and its impact on equity markets, which may face a wave of risk-off sentiment. Markets are also awaiting the EIA Weekly Petroleum Report; previous data showed a sharp inventory draw of -7.974 million barrels (as of June 3, 2026), which could compound price pressures if tensions persist.