Iran Defense Ministry Says It Will Use All Forces to Strengthen Defense

Iran's Defense Ministry said it will use all available forces to strengthen the country's defense capabilities, as markets monitor the risk of rising military tensions between the U.S. and Iran.

Walter Bloomberg reported on June 3 that the ministry said it would "use all forces to strengthen defense capabilities."

Iranian state media also reported that Iran carried out an operation against a U.S. warship approaching its territorial waters in the Gulf of Oman.

The report claimed the vessel was a U.S. military ship serving as a "Control and Command Center."

The exact nature of the operation, the scale of any damage and the U.S. response were not immediately confirmed.

The U.S. and Iran have continued talks on nuclear negotiations and an extension of a ceasefire, but tensions over military activity around the Strait of Hormuz and the Gulf of Oman have persisted.

Market participants are also weighing the possibility that a broader military conflict in the Middle East could affect global oil prices and demand for safe-haven assets.