#usiranmilitaryclashesresume — Oil Jumps Above $91, Crypto Slides
After roughly a month of relative calm, direct military clashes between Washington and Tehran have reignited — and markets are feeling it across oil, gold, and crypto.
What happened
⚡ Aug 30 — US Central Command confirmed it destroyed two Iranian rocket launchers on Larak Island (Strait of Hormuz) — the first publicly admitted US strike on Iran since late July, ending the month-long "truce period."
⚡ Iran retaliated — IRGC fired 8 missiles at two US air bases in Jordan ; nearly all were intercepted, though satellite imagery reportedly shows a direct hit on a hangar at the Muwaffaq Salti base.
⚡ Escalation rhetoric — Trump threatened to destroy Kharg Island , Iran's key oil export hub, and vowed to "hit Iran hard." Analysts see the Kharg threat as mostly rhetoric — destroying oil infrastructure would risk environmental disaster and major escalation.
⚡ Broader fallout — Iran struck a Saudi tanker with 3 missiles exiting Hormuz; UAE shot down an Iranian drone; Iran fired a surface-to-air missile at a US F-35 over Hormuz. Washington is reportedly weighing limited strikes to curb Hormuz attacks — White House says "all options are on the table."
⚡ Political turbulence — US Army Secretary Dan Driscoll resigned after clashes with Defense Secretary Hegseth, even as the conflict continues.
The key risk: two critical shipping lanes — Strait of Hormuz (~7M bpd transiting under US escort last week) and Bab el-Mandeb — are both exposed. Any sustained disruption could push crude higher and keep inflation fears alive, a headwind for risk assets.
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