US strikes Iran for third straight night as Tehran hits Gulf military bases

The US military carried out a third consecutive night of strikes against military targets inside Iran, officials said, with facilities tied to missile production and air-defense systems among the sites hit. Washington described the wave of strikes as part of an ongoing operation to protect its military presence in the region.

In response, Tehran said it struck US military facilities in the Gulf, with Iranian officials framing the move as retaliation for attacks on Iranian territory. Neither side has offered a formal timeline for when the exchange of strikes might end.

One of the clearest effects of the escalation has been on shipping through the Strait of Hormuz. Oil and gas traffic through the waterway has fallen sharply in recent days, and insurers have widened the areas they classify as high-risk. Energy markets have continued to price in the possibility of a prolonged disruption to the strait.

Officials in Washington say the strikes are intended to limit Iran's missile and nuclear-linked capabilities, a characterization Tehran has rejected. Governments across the region have voiced concern about the conflict spreading further, though diplomatic channels remain open. No concrete negotiating schedule has been set between the two sides.

Analysts warn that a prolonged standoff raises the risk of a lasting squeeze on global energy supply. Major importing economies in Asia have already begun assessing alternative supply routes, a search that is pushing up freight and insurance costs in the near term.