US Launches New Strikes on Iran as Oil Prices Surge

In early September 2026, the United States launched a new round of military strikes against targets in Iran, including those linked to the Islamic Revolutionary Guard Corps (IRGC). The strikes came a day after President Trump warned of military action, and Iranian state media reported numerous attacks on the country. Tehran responded with its own strikes, marking a widening conflict between the two nations amid rising tensions in the Strait of Hormuz.

The escalation rattled financial markets, with U.S. stocks falling as oil prices surged following the new Middle East strikes. President Trump said the U.S. was hitting Iran with 'large and powerful' strikes and warned that 'very little' would be left if Tehran retaliated. The strikes followed recent attacks on U.S. service members, which the U.S. attributed to Iranian-backed forces.