U.S. Strikes Iran Targets Again as Oil Tops $90 and Tehran Hits Gulf Bases

3 articles · Updated · CNBC · Sep 2

Fresh U.S. strikes hit Iranian air-defense and radar targets after a ceasefire collapsed, and Tehran retaliated with attacks on U.S. military infrastructure across the Gulf.
WTI crude climbed back above $90 a barrel and Brent topped $95, while the renewed fighting rattled risk assets and pushed U.S. futures, Asian stocks and expected European opens lower.
Tuesday's market fallout had already sent the Dow down more than 400 points, as bond yields kept rising with the U.S. 10-year Treasury yield at its highest since January 2025.
Donald Trump said he was not trying to force Iran to the bargaining table but claimed the U.S. had almost total control of the Strait of Hormuz, underscoring the threat to global energy flows.
The flare-up adds to wider geopolitical and trade strains, with China rejecting G20 language on cheap exports and Washington announcing oil deals with Venezuela that analysts say will take years to lift supply.