A massive fire at the site of Iran's attacks last night; large fire previously detected in the Strait of Hormuz, Musandam province, has moved; another big fire has been detected 30km west of Lark Island, Tasnim reports

The reported fires near the site of Iran's recent attacks and in the strategically significant Strait of Hormuz could escalate tensions in the region. Given the Strait's critical role in global oil shipments, such developments may influence oil prices, particularly WTI, as markets discount potential supply disruptions. Traders should monitor for further repercussions on risk sentiment and energy prices as the situation evolves.