US and Iran escalate strikes as the Strait of Hormuz dispute worsens

The US says it has struck dozens of Iranian military targets in overnight attacks, following earlier strikes on more than 140 targets, while Iran says it retaliated by hitting US bases in Kuwait, Jordan, Bahrain and elsewhere in the region [1][2][4]. The confrontation is tied to competing claims over the Strait of Hormuz, with the US insisting the waterway is open and Iran saying it is closed until further notice [1][2][4]. Why it matters: This matters because the Strait of Hormuz is a critical corridor for global trade and energy flows, and the fighting is already moving oil markets [1][2][4]. The exchange also puts the June interim ceasefire and ongoing mediation efforts at risk [2][4]. Key insights: Centcom said the strikes targeted air-defense systems, coastal radar sites, missile and drone capabilities, communication networks, and other military sites [1][2][4]. | Iran’s IRGC said its retaliation included strikes on US military bases in Kuwait, Jordan and Bahrain, and the BBC reporting notes Jordan and Kuwait said they intercepted missiles or hostile aerial targets [1][2]. | Oil prices jumped after the latest fighting, with Brent and US-traded crude both rising 4.3% on Monday in Asia [2]. | The BBC says the latest violence comes after a ceasefire framework signed in June and renewed disputes over whether commercial ships can transit the strait safely [1][2][4].