"US military attacked Iranian targets in the Strait of Hormuz, an American official told me. The American official claimed that the attacks do not constitute a renewal of the war with Iran", Axios' Ravid posts

The US military's attack on Iranian targets in the Strait of Hormuz marks a significant escalation in tensions, even as the American official downplays the situation as not a renewal of war. This escalation could impact energy markets, particularly WTI prices, given Hormuz's critical role in global oil shipping. Traders should closely monitor market reactions and sentiment around commodities and potential geopolitical ripple effects.