Iran’s retaliatory strikes across the Gulf have disrupted some business activity in one of the world’s most trade-dependent regions, forcing temporary airport closures, interrupting port operations and unsettling financial markets , while the private sector remains resilient according to authorities.
Iran's Revolutionary Guards warned on Saturday that no vessel would be allowed to pass through the Strait of Hormuz, a chokepoint through which nearly a fifth of the world’s oil supply passes.
An Iranian Jamaran-class corvette was struck by US forces during the start of Operation Epic Fury, said US Central Command. The ship is currently sinking to the bottom of the Gulf of Oman at a Chah Bahar pier, it said.
Bahrain international airport was targeted by drone, Reuters quoted Interior Ministry as saying. The ministry said the drone only caused material damage.
Iran's Supreme Leader Ayatollah Ali Khamenei was killed in his office on Saturday morning during US-Israeli air strikes, Iran's state media has confirmed.
Oman, which was spared retaliation on Saturday, today reported its Duqm commercial port was targeted by two drones, wounding one worker.
Israel and the United States have launched strikes on Iran on Saturday morning with explosions being reported in multiple Iranian cities including capital Tehran.
At least one person has been killed in Abu Dhabi, the capital of the United Arab Emirates, in multiple missile launches by Iran that targeted US bases across the Gulf region.
Oil prices were hovering near seven-month highs on Wednesday as the threat of military conflict between the US and Iran that could disrupt supply continued to worry investors as talks between the parties are set for Thursday. Brent prices soared to $71.10 per barrel, their highest since July 31, 2025.
US President Donald Trump has warned that Iran must reach a “meaningful” agreement over its nuclear programme within “10 to 15 days” or face unspecified consequences, escalating rhetoric amid a heightened US military presence in the Middle East.
