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Oil Jumps 4% as New Military Strikes Threaten Hormuz Shipments · GNN Daily Breaking News

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  Speaker 1: Global oil prices surged by four percent after Iran declared
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  Speaker 1: the Strait of Hormas closed and intensified missile and drone
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  Speaker 1: attacks across the Gulf, raising fears of a prolonged disruption
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  Speaker 1: to one of the world's most critical energy corridors. The
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  Speaker 1: US Central Command confirmed that American forces struck more than
• 0:19
  Speaker 1: one hundred forty Iranian military sites over the weekend, including
• 0:24
  Speaker 1: missile launch facilities and naval assets, while intercepting an Iranian cruise,
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  Speaker 1: missile and drone aimed at Gulf targets. The Strait of Hormas,
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  Speaker 1: a narrow passage linking the Persian Gulf to global markets,
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  Speaker 1: handles nearly twenty percent of the world's oil and gas exports.
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  Speaker 1: Its closure has already disrupted shipping schedules, with tankers rerouted
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  Speaker 1: or delayed, and analysts warned that prolonged instability could send
• 0:53
  Speaker 1: prices soaring further. Energy traders reacted immediately, pushing Brent crude
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  Speaker 1: and West Texas intermediate futures higher, reflecting concerns about supply
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  Speaker 1: shortages and inflationary pressures worldwide. Iran's escalation has rattled Gulf states.
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  Speaker 1: Qatar reported injuries from falling shrapnel. Kuwait confirmed damage to
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  Speaker 1: border centers and an offshore oil platform. Bahrain sounded repeated
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  Speaker 1: air raid sirens, and Oman summoned Iran's ambassador after drone
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  Speaker 1: strikes hit Musandum and Alwusta. Jordan also reported missiles landing
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  Speaker 1: near a US base, though no casualties were recorded. The
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  Speaker 1: timing is particularly sensitive as global markets remain vulnerable to
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  Speaker 1: inflationary shocks. Economists note that a sustained disruption in Hormas
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  Speaker 1: could ripple through industries from shipping to manufacturing, while consumers
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  Speaker 1: face higher fuel and transport costs. The US administration insists
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  Speaker 1: its strikes are aimed at deterring further Iranian aggression, but
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  Speaker 1: Tehran has vowed to continue retaliatory measures, daring that the
• 2:00
  Speaker 1: era of one sided deals is over. The confrontation has
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  Speaker 1: entered a dangerous new phase, with military escalation directly impacting
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  Speaker 1: global energy flows. For Washington, the challenge is balancing deterrence
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  Speaker 1: with diplomacy, while Gulf states brace for further attacks and
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  Speaker 1: international markets prepare for volatility.