US military strikes Iranian oil carriers amid escalating tensions

The United States military has carried out strikes on three Iranian crude oil carriers, according to a report by Central Command. This development comes amidst escalating tensions in the ongoing U.S.-Iran conflict centered on the Strait of Hormuz. The conflict has seen repeated exchanges of strikes and a U.S. naval blockade on Iranian shipping. Striking Iranian crude oil carriers marks a significant escalation, as it directly targets Iran’s energy export routes, further intensifying the situation. The market for Iran’s potential full airspace closure by the end of December has seen an increase in the perceived likelihood of such an event. The latest military actions appear to support scenarios where Iran might consider closing its airspace in response to heightened military threats. Currently, the market pricing suggests a 26.5% probability of a full airspace closure by December 31, up from 18% a week ago. This escalation may fuel further speculation about Iran’s response, with key actors such as the Civil Aviation Organization of Iran and Iranian State Television playing potential roles in any forthcoming announcements. The situation remains fluid, and market participants are clos...