The US military launched strikes on Iranian targets after Iran was blamed for downing a US Army Apache helicopter near the Strait of Hormuz, marking the latest escalation in a conflict that has kept global markets on edge for months.

US Central Command said the strikes began at about 5 p.m. ET on June 9 and were carried out as self defense. The operation targeted Iranian air defense systems, radar sites, and related military infrastructure near the strategic waterway.

Both crew members from the downed helicopter were rescued safely. US officials described the response as proportional and aimed at degrading Iran’s ability to threaten American forces, rather than opening a broader campaign against strategic targets.

The timing matters for markets. The Strait of Hormuz handles roughly a fifth of global oil flows, making any military activity near the chokepoint an immediate concern for energy prices, inflation expectations, and risk appetite.

The strikes are not an isolated event. They follow months of direct conflict between the US, Israel, and Iran, including the February launch of Operation Epic Fury, when US and Israeli forces struck hundreds of Iranian targets in the first hours of the campaign.

The latest escalation also comes after earlier US strikes in May and repeated efforts to revive ceasefire talks. Each new exchange makes the diplomatic path harder and raises the risk that limited strikes turn into a longer military cycle.