The United States fired precision munitions at Iranian military targets on Wednesday as Iran shut the Strait of Hormuz to all vessel traffic, sending oil prices sharply higher and rattling Asian stock markets in the most dramatic single-day escalation of the conflict so far.
Here are the key updates from the escalating situation in the Gulf:
US Strikes Iran
US Central Command said its forces completed additional self-defence strikes against multiple targets in Iran on Wednesday, at the direction of the Commander in Chief.
CENTCOM said Marine Corps, Air Force and Navy assets fired precision munitions on Iranian military surveillance capabilities, communication systems and air defence sites across Iran that it said posed a threat to US forces and international commercial ships transiting regional waters.
"The strikes are in response to Iran's unwarranted and continued aggression. U.S. forces remain vigilant, lethal, and ready," CENTCOM said.
Strait Of Hormuz Closed
Iran ordered the complete shutdown of the Strait of Hormuz to all maritime traffic in response to the strikes.
Tasnim quoted Iran's Khatam al-Anbiya military command as saying "any vessel traffic through the Strait of Hormuz will be targeted" and that the route was "completely closed to all types of vessel."
Iranian naval authorities said "two ships attempting to illegally pass through the Strait of Hormuz were hit."
Oil Prices Jump
Oil prices closed up nearly $2 on Wednesday after President Donald Trump said the U.S. is going to attack Iran "very hard" if no peace deal is finalized. Brent crude futures last traded 0.3% lower at $94 after settling at $93.10 per barrel, up $1.65 or 1.8%. US crude futures finished at $90.03 a barrel, up $1.83, or 2%.
Both contracts jumped about $3 in afternoon trading after Trump reiterated that Iran would be attacked again following an exchange of fire overnight that was one of the most significant since an April ceasefire.
Asian Stocks Fall
Asian markets were mixed on Thursday after recovering from steeper losses earlier in the session.
Hong Kong's Hang Seng gained 0.20%, while South Korea's Kospi rose 0.34% after tumbling as much as 4.1% earlier in the day. Japan's Nikkei 225 was down 0.37%, recovering from an earlier decline of 2.3%. Australia's S&P/ASX 200 fell 0.30%, while China's Shanghai Composite slipped 0.02%.
ALSO READ: US Strikes 'Multiple Targets' In Iran; Trump Says Tehran Officials Asked To 'Stop Bombing'
Trump's Warning
Trump warned Iran that bombing would pause based on a request from Iranian leaders but would resume the following day if Tehran failed to sign a deal. "We'll bomb the shit out of them," Trump said, should Iran refuse to comply.
Trump also said that he had spoken directly with Iranian officials who asked him "to stop bombing," even as Iran flatly denied any such contact and said it was delivering what it called a "decisive response" to US strikes.
Tehran Attacks Gulf Bases
Iran's Islamic Revolutionary Guard Corps said it had targeted 18 "important" US military-related sites at the Ali Al-Salem and Ahmed Al-Jaber bases in Kuwait and Sheikh Isa Air Base in Bahrain as part of its response operations to US attacks, Al Jazeera reported.
Bahrain Sounds Alarm
Bahrain's Ministry of Interior activated alarm sirens across the country following the Iranian strikes. "Citizens and residents are requested to remain calm, head to the nearest safe location, and follow updates through official channels," the ministry said.
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