US official says attacks on sites inside Iran are still ongoing and we will announce their end when they are complete, Al Jazeera reports

US strikes on Iranian territory sit at the severe end of the Gulf escalation ladder, and episodes of direct state-on-state action have tended to trade differently from proxy skirmishes: the initial move in crude, gold and safe havens is sharp, but the durable repricing has historically depended on whether Tehran retaliates against energy infrastructure or shipping rather than on the strikes themselves. The channel that matters is freight, insurance and the Strait of Hormuz risk premium embedded in prompt crude spreads, not the headline count of sites hit. The wording here, that operations are ongoing with an end to be announced, signals a defined campaign rather than a one-off strike, which in past sequences has kept the geopolitical premium elevated until the declared completion and the nature of any Iranian response are known. Actors to weigh include Iran's prior form of calibrated, telegraphed retaliation versus direct escalation, and whether Gulf producers or shipping lanes are drawn in. The tells are the announced end of operations, any Iranian statement framing its response, tanker insurance rates and front-month timespreads. As an in-flight operation reported via regional media, confirmation and scope remain the first order questions.