The United States launched new airstrikes on Iranian targets on Tuesday, diminishing hopes that an exchange of fire last weekend would not lead to a wider renewal of hostilities. US Central Command stated that US forces began striking Islamic Revolutionary Guard Corps (IRGC) targets in Iran at 12 p.m. ET (1600 GMT).
These strikes follow recent attempted attacks by the IRGC against commercial shipping in the Strait of Hormuz and against American service members in the region. Iran's state broadcaster reported explosions on Iran's Qeshm Island, while the state-linked Nour News agency reported explosions in Bandar Abbas and Chabahar.
Oil prices had already increased after the initial exchange of direct attacks since July, and following reports of two tankers being hit leaving the Strait of Hormuz, which Iran has reportedly closed to shipping. Tehran has remained defiant, with Iran's parliament speaker, Mohammad Baqer Qalibaf, quoted as saying that if the US intensified its "siege," Tehran would respond militarily and prevent oil exports from the Persian Gulf.
US Treasury Secretary Scott Bessent warned that Washington was preparing to impose new sanctions. However, Iran's President Masoud Pezeshkian stated earlier on Tuesday that Tehran would reciprocate immediately if Washington honored its commitments under a June memorandum of understanding intended to halt the conflict.