U.S. military says it has completed the latest round of strikes against Iran, amid more disruptions to shipping

• U.S. Central Command struck Iranian military logistics infrastructure, underground weapons storage, and maritime capabilities while intercepting and redirecting commercial vessels to enforce compliance with the naval blockade
• Iran's Revolutionary Guard blocked four vessels attempting to transit the Strait of Hormuz and conducted drone and missile attacks on Kuwait's desalination facilities, which supply nearly 90% of the country's water demand
• Oil prices jumped sharply with Brent crude rising 4.6% to $88.10 per barrel and WTI gaining 4.5% to $82.49, both reaching their highest levels since mid-June with weekly gains of approximately 16%

Market Summary: U.S.-Iran Military Escalation Disrupts Shipping, Drives Oil Prices Higher

Key Developments

The U.S. military completed a seventh consecutive night of strikes against Iran on Friday, targeting military logistics infrastructure, underground weapons storage, and maritime capabilities. The attacks ended at 9:30 PM ET as U.S. Central Command continues enforcing a naval blockade against Iranian ports.

A fragile truce signed last month—intended to reopen the Strait of Hormuz following initial U.S.-Israeli strikes on Iran on February 28—is rapidly deteriorating. Both nations have intercepted commercial vessels, with the U.S. redirecting four ships, disabling one, and boarding another during three days of operations. Iran's Revolutionary Guard Corps claims to have halted four vessels attempting passage through the Strait of Hormuz.

Regional Impact

Iran launched attacks on Kuwait and Bahrain, with Kuwait reporting a desalination plant fire (the second attack in two days) and suspended flights through Kuwait Airways. This is critical as Kuwait depends on desalination for 90% of its drinking water. Bahrain intercepted several Iranian projectiles and activated air defense sirens.

Market Implications

Oil prices surged sharply on the escalating tensions:

• Brent crude: +4.6% to $88.10/barrel (highest since mid-June)
• WTI crude: +4.5% to $82.49/barrel
• Weekly gains: Both benchmarks rose approximately 16%, with Brent posting a third consecutive weekly gain

President Trump threatened to target Iran's bridges and power plants next week if negotiations fail, while analysts warn of potential strategic miscalculations despite superior U.S. military capabilities. The conflict poses significant risks to global energy supplies through the strategically vital Strait of Hormuz.