Marketdash

War Updates: U.S. Strikes Iranian Drone Site, IRGC Claims Retaliation, and China Eyes Oil Deal

MarketDash
Iran map highlighted
The conflict enters its 24th day with U.S. airstrikes on an Iranian drone engine facility, IRGC claims of attacks on U.S. and Saudi bases, and China exploring Iranian oil purchases amid a U.S. sanction waiver.

Get Market Alerts

Weekly insights + SMS alerts

Here's what's happening in the U.S.–Israel–Iran conflict on Monday, as it enters its twenty-fourth day. Think of it as the morning briefing you'd get from a colleague who's been up all night watching the wires.

First, the threats and counter-threats. An Iranian military spokesman, Ebrahim Zolfaqari, reportedly warned that Iran would target U.S. and allied energy, IT, and water infrastructure if its own facilities are attacked. This came after President Donald Trump said the U.S. would strike Iran's power plants unless it reopens the Strait of Hormuz within 48 hours. With U.S. military deployments to the region, the whole situation feels like a game of chicken where everyone's foot is already on the gas.

Iran Attacks Shrink, Says U.S.

Brad Cooper, the chief of U.S. Central Command (CENTCOM), told Iran International that Iran is increasingly attacking civilian targets out of desperation as its military weakens. He noted over 300 deliberate strikes in recent weeks and a sharp drop in attack scale—from large waves of drones and missiles to just one or two at a time. It's the kind of shift that suggests either they're running low on hardware or they're trying to make a point with whatever they have left.

IRGC Claims Strikes On U.S., Saudi Bases

Not to be outdone, an Islamic Revolutionary Guard Corps (IRGC) linked spokesperson said forces struck Prince Sultan Air Base and the United States Fifth Fleet with missiles and drones, citing U.S. military activity at the base. Separately, the Houthi movement claimed a drone attack on an Israeli aerospace-related site near Ben Gurion Air Base, according to reports. It's a reminder that in modern conflicts, the battlefield isn't just one place—it's wherever someone can launch a drone or fire a missile.

Get Market Alerts

Weekly insights + SMS (optional)

U.S. Strikes Iran Drone Engine Site

Meanwhile, U.S. Central Command (CENTCOM) said the U.S. military targeted a turbine engine facility in Qom province linked to the Islamic Revolutionary Guard Corps (IRGC), used to produce engines for drones and aircraft components. They shared before-and-after images indicating the site was heavily damaged in airstrikes. If you're trying to degrade someone's ability to make drones, hitting the place that makes the engines is a pretty logical move.

China Eyes Iran Oil After U.S. Waiver

On the economic front, Chinese state refiners are exploring oil purchases from Iran after the U.S. issued a 30-day sanction waiver to ease global supply bottlenecks, according to reports. Meanwhile, the National Iranian Oil Company and intermediaries are quietly reaching out to Asian buyers. It's a classic geopolitical dance: the U.S. tries to tighten the screws, then loosens them slightly to avoid spiking oil prices, and everyone else rushes to fill the gap.

Australia–Singapore Energy Supply Pact

And in a sign that the ripple effects are spreading, Australia and Singapore have agreed to boost coordination to secure uninterrupted supplies of diesel and liquefied natural gas amid the ongoing conflict involving Iran. The deal also focuses on strengthening energy supply chains, promoting renewable energy, and keeping trade flows open. When major shipping lanes are at risk, even countries far from the conflict start making backup plans.

War Updates: U.S. Strikes Iranian Drone Site, IRGC Claims Retaliation, and China Eyes Oil Deal

MarketDash
Iran map highlighted
The conflict enters its 24th day with U.S. airstrikes on an Iranian drone engine facility, IRGC claims of attacks on U.S. and Saudi bases, and China exploring Iranian oil purchases amid a U.S. sanction waiver.

Get Market Alerts

Weekly insights + SMS alerts

Here's what's happening in the U.S.–Israel–Iran conflict on Monday, as it enters its twenty-fourth day. Think of it as the morning briefing you'd get from a colleague who's been up all night watching the wires.

First, the threats and counter-threats. An Iranian military spokesman, Ebrahim Zolfaqari, reportedly warned that Iran would target U.S. and allied energy, IT, and water infrastructure if its own facilities are attacked. This came after President Donald Trump said the U.S. would strike Iran's power plants unless it reopens the Strait of Hormuz within 48 hours. With U.S. military deployments to the region, the whole situation feels like a game of chicken where everyone's foot is already on the gas.

Iran Attacks Shrink, Says U.S.

Brad Cooper, the chief of U.S. Central Command (CENTCOM), told Iran International that Iran is increasingly attacking civilian targets out of desperation as its military weakens. He noted over 300 deliberate strikes in recent weeks and a sharp drop in attack scale—from large waves of drones and missiles to just one or two at a time. It's the kind of shift that suggests either they're running low on hardware or they're trying to make a point with whatever they have left.

IRGC Claims Strikes On U.S., Saudi Bases

Not to be outdone, an Islamic Revolutionary Guard Corps (IRGC) linked spokesperson said forces struck Prince Sultan Air Base and the United States Fifth Fleet with missiles and drones, citing U.S. military activity at the base. Separately, the Houthi movement claimed a drone attack on an Israeli aerospace-related site near Ben Gurion Air Base, according to reports. It's a reminder that in modern conflicts, the battlefield isn't just one place—it's wherever someone can launch a drone or fire a missile.

Get Market Alerts

Weekly insights + SMS (optional)

U.S. Strikes Iran Drone Engine Site

Meanwhile, U.S. Central Command (CENTCOM) said the U.S. military targeted a turbine engine facility in Qom province linked to the Islamic Revolutionary Guard Corps (IRGC), used to produce engines for drones and aircraft components. They shared before-and-after images indicating the site was heavily damaged in airstrikes. If you're trying to degrade someone's ability to make drones, hitting the place that makes the engines is a pretty logical move.

China Eyes Iran Oil After U.S. Waiver

On the economic front, Chinese state refiners are exploring oil purchases from Iran after the U.S. issued a 30-day sanction waiver to ease global supply bottlenecks, according to reports. Meanwhile, the National Iranian Oil Company and intermediaries are quietly reaching out to Asian buyers. It's a classic geopolitical dance: the U.S. tries to tighten the screws, then loosens them slightly to avoid spiking oil prices, and everyone else rushes to fill the gap.

Australia–Singapore Energy Supply Pact

And in a sign that the ripple effects are spreading, Australia and Singapore have agreed to boost coordination to secure uninterrupted supplies of diesel and liquefied natural gas amid the ongoing conflict involving Iran. The deal also focuses on strengthening energy supply chains, promoting renewable energy, and keeping trade flows open. When major shipping lanes are at risk, even countries far from the conflict start making backup plans.