The United States has launched a series of military strikes against Iran, which have been described as three distinct waves. The initial wave came after an Apache helicopter was downed over the Strait of Hormuz. The second wave is reportedly already underway, while a third wave has seen ballistic missiles fired from Isfahan. In response, unconfirmed reports indicate that cruise missiles have been launched from Bandar Abbas towards the Persian Gulf, alongside missile strikes from Houthi forces targeting Saudi Arabia. The Iranian Islamic Revolutionary Guard Corps (IRGC) has stated that they have conducted drone attacks on the US fleet stationed in Bahrain. These developments have contributed to a rise in oil prices globally.