US resumes strikes against Iran, targeting Qeshm Island

The US Central Command (CENTCOM) began launching strikes against Iran late Wednesday, retaliating against Iranian missile attacks on American forces in the region, the Guardian reported.

Iranian media said the US military hit the south-western Iranian city of Abadan as well as Qeshm Island. This action came hours after US President Trump said the US would "be hitting them very hard" in response to new attacks by Iran targeting US forces in the Middle East.

The Wall Street Journal reported that US President Donald Trump is considering whether to launch a renewed military campaign against Iran, with the US military preparing plans for an intensive 2-week air operation targeting Iran’s missile capabilities. 

Market reaction

At the time of writing, the West Texas Intermediate (WTI) is down 1.34% on the day at $82.47.