Iranian Media Report Missile Launch in South, Exchange of Fire Near Strait of Hormuz
Summary
- Iranian media reported that the military carried out a missile launch operation in the country’s south, drawing market attention to the possibility of rising tension in the Strait of Hormuz.
- Explosions and sounds of clashes were reported as Iran’s Islamic Revolutionary Guard Corps stepped up control operations over ships transiting the strait.
- Market participants said tensions in the Strait of Hormuz could affect volatility in global financial markets, including oil prices, gold and dollar flows.
Forecast Trend Report by Period
Iranian forces carried out a missile launch operation in the country’s south, Iranian media reported, as markets watched for signs of rising tension around the Strait of Hormuz.
Fars News Agency reported on May 28 that the Iranian military had launched missiles at a specific target in the southern region. The missile’s exact destination has not been confirmed.
Tasnim News Agency reported that sounds of explosions and exchanges of fire heard in waters near the Strait of Hormuz stemmed from a clash that broke out during warnings issued to ships. Iran’s Islamic Revolutionary Guard Corps has recently stepped up efforts to control vessels transiting the strait.
The US and Iran have continued talks over extending a ceasefire, restoring normal conditions in the Strait of Hormuz and nuclear negotiations. Even so, military tensions have persisted, with the two sides recently involved in a drone shootdown, maritime clashes and missile launches.
Market participants are assessing whether tensions in the Strait of Hormuz could fuel volatility across global financial markets, including oil, gold and the dollar.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
