Iran has announced the closure of the Strait of Hormuz and warned vessels against attempting passage through the strategic waterway.
The move follows fresh US military strikes on Iranian targets, with CENTCOM describing the operations as self-defence actions.
Crude oil prices jumped following the escalation, with Brent crude futures rising to around $94 per barrel.
Iran's military leadership on Thursday announced the closure of the Strait of Hormuz to all oil tankers and commercial vessels, warning that any ship attempting to transit through the strategic waterway would be targeted.
The announcement followed fresh US military strikes on Iranian targets on Wednesday. The US Central Command (CENTCOM) said its forces had conducted additional "self-defence" operations against multiple targets in Iran.
4 July 2026
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"The strikes are in response to Iran's unwarranted and continued aggression. US forces remain vigilant, lethal, and ready," CENTCOM said in a statement.
The escalation rattled global energy markets, with benchmark Brent crude futures rising to $94 per barrel after settling at $93.10 in the previous session.
Iran Rules Out Immediate Talks
Amid international efforts to secure a ceasefire, Iranian media reported that Tehran would not engage in any negotiations until Israel fully withdraws from occupied areas in Lebanon and halts military operations in both Lebanon and Gaza.
US President Donald Trump, meanwhile, said Washington had paused its bombing campaign following what he described as a request from Iranian officials. He warned that military action would resume if Tehran failed to agree to a deal.
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"We'll bomb the shit out of them," Trump said, threatening renewed strikes if Iran refused to comply with US demands.
Trump also claimed he had spoken directly with Iranian officials who had asked him to halt the bombing campaign. Iran, however, denied any such communication, insisting that it was continuing what it described as a "decisive response" to US attacks.
Iran Targets Gulf Bases
In a further escalation, Iran's Islamic Revolutionary Guard Corps (IRGC) said it had launched attacks on 18 "important" US military-related sites, including Ali Al-Salem and Ahmed Al-Jaber air bases in Kuwait and Sheikh Isa Air Base in Bahrain, according to Al Jazeera.
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Following the strikes, Bahrain's Ministry of Interior activated emergency sirens across the country and urged residents to seek shelter.
"Citizens and residents are requested to remain calm, head to the nearest safe location, and follow updates through official channels," the ministry said in a statement.
Israel Expands Lebanon Operations
At the same time, Israel has intensified its military campaign in Lebanon. According to Reuters, Prime Minister Benjamin Netanyahu earlier this week ordered strikes on Hezbollah-controlled suburbs in Beirut, marking another escalation in the region's widening conflict.
The latest developments have heightened concerns over regional stability, global energy supplies, and the possibility of a broader confrontation involving Iran, the United States, Israel, and Gulf nations.
