US forces launched strikes against Iranian military targets on June 9, and oil prices responded almost immediately. Brent crude rebounded in afternoon trading following the announcement, adding fresh fuel to an energy market that’s spent much of 2026 on edge.
The strikes, announced by US Central Command at approximately 5 p.m. ET, targeted Iranian air defenses and radar installations near the Strait of Hormuz. The retaliation came after Iran allegedly downed a US Army AH-64 Apache helicopter in the same area the previous day, an incident President Trump attributed to an Iranian-operated Shahed drone.
What happened and why it matters
Roughly a fifth of the world’s oil supply passes through the Strait of Hormuz on any given day. The Apache helicopter’s two pilots were safely rescued by US Navy forces within two hours of the incident, ultimately unharmed. But the downing of a US military aircraft by what Washington says was an Iranian drone represents a significant escalation in a conflict that’s been simmering since late February 2026.
Tensions between the US, Israel, and Iran have been building for months. Earlier peaks in the conflict pushed oil prices toward or above $100 per barrel. The June 9 strikes add another layer of uncertainty to a market already priced for conflict.
