Key facts
- The U.S. military launched new airstrikes on targets in Iran on Tuesday.
- These strikes followed recent Iranian attacks on shipping and U.S. personnel.
- The action ended a month-long period without U.S. strikes on Iran.
- Iran's military reported launching a "decisive operation" against U.S. targets in response.
- Global oil prices increased by over $4 per barrel following the escalation.
The U.S. military has launched new airstrikes on targets in Iran, significantly escalating hostilities after a month without direct action. The strikes, which occurred on Tuesday, followed recent Iranian attacks on shipping and U.S. personnel, ending hopes for de-escalation after exchanges over the weekend. In response, Iranian media reported that the country's military has initiated a "decisive operation" against U.S. targets in the region, with Iranian missiles and drones reportedly targeting U.S. bases and interests. Global oil prices rose over $4 a barrel following the events, and Tehran has vowed to prevent oil exports from the Gulf.