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US strikes Iranian site near Hormuz; oil prices rise above $95 amid geopolitical tensions.

Market News
03 Jun 2026
Namrata Sen
View Source
Bearish
pluang ai news

The US military launched strikes on an Iranian ground control station on Qeshm Island near the Strait of Hormuz in retaliation for Iran's failed missile attacks on Kuwait and Bahrain. This action caused Dow futures to fall slightly while oil prices climbed above $95 per barrel. The situation adds to regional tensions, with ongoing Israel-Lebanon clashes and uncertain Iran-US nuclear negotiations. Markets remain cautious as geopolitical risks grow, impacting commodities and futures trading.

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