BREAKING: Iran is exercising full operational control over the Strait of Hormuz today with over 100 IRGC Navy speedboats visible in a major formation along their designated route 55km northwest of Qeshm Island, per Sentinel-2 satellite imagery.
BREAKING: US strikes hit Iran's Sirik Naval Base and radar sites in Goruk and Qeshm Island in the Strait of Hormuz, per CENTCOM.
Iran previously warned the disproportionate response to any new US strikes would be "1.5x harder" and "completely different and heavier."
Money managers reduced their net-length in Brent crude oil futures and options by 26,220 to 252,500 in the week ending June 2
Long-only positions fell by 11,902
Short-only positions rose by 14,318
other reportables net-length fell by 15,215
ICE #oott
BREAKING: Iran has launched a massive ballistic missile and drone attack, striking the US 5th Fleet headquarters in Bahrain along with US bases in Kuwait, Ali Al Salem + Arifjan, and an oil tanker near Dubai, in response to new US strikes on Qeshm Island and an Iranian oil tanker near the Strait of Hormuz, per Tasnim.
Iran says it has officially abandoned tit-for-tat retaliation, now striking back "at least 1.5x as hard" for every US attack, with IRGC warning "disrupting the security of the Strait of Hormuz will have a heavy price for the invading US military."