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US Central Command confirmed it carried out self-defense airstrikes on Iranian missile launch sites and mine-laying boats near the Strait of Hormuz, downing multiple Iranian drones in the process. The strikes, which took place on May 25-26, targeted positions near Bandar Abbas, Iran.
Roughly 20% of the world’s oil supply passes through the Strait of Hormuz.
What happened and why it matters
CENTCOM framed the operation as a defensive measure to protect US personnel. A ceasefire has been in place since early April or May 2026, with peace talks ongoing in Qatar.
On February 28, 2026, the US and Israel launched Operation Epic Fury, a massive campaign involving nearly 900 strikes that killed Iranian Supreme Leader Ali Khamenei. Iran’s retaliatory response has included threats to close the Strait of Hormuz entirely, a move that would effectively choke a fifth of global oil transit.
The mine-laying boats targeted in this latest operation suggest Iran has been taking steps in that direction. Brent crude prices have peaked above $100 per barrel during the height of the conflict.
The crypto market reaction
Bitcoin briefly dipped below $80K in the immediate aftermath of the strikes. The recovery was swift. Bitcoin climbed back above $80K shortly after the initial sell-off, and the impact on other cryptocurrencies was minimal.
What this means for investors
Peace talks are happening in Qatar. The ceasefire is technically intact. And yet the US just bombed Iranian military positions.
If Iran makes a serious attempt to mine or block the Strait of Hormuz, the resulting oil price shock would ripple through every asset class. The peace talks in Qatar are the key factor holding that scenario at bay.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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