US Military Forces Launch New Strikes Against Iran

The US military launched new strikes against Iran after Iranian attacks on commercial ships in the Strait of Hormuz. The escalation calls the durability of the US-Iran ceasefire into question. Oil prices already reacted to a lifted sanctions waiver, and further crude upside is possible. - US Central Command announced powerful strikes against Iran in response to attacks on three commercial vessels transiting the Strait of Hormuz. - The strikes raise concerns about the durability of the 60-day US-Iran ceasefire. - Oil prices moved higher on the same day after a related sanctions waiver was lifted. - Joe Mathieu flagged the potential for another leg up in crude oil prices amid the escalating tensions.