The United States carried out strikes on ten Iranian targets on the second consecutive day of military action, pushing a fragile ceasefire into serious doubt and lifting the immediate risk of a broader regional conflict.

Details on the specific sites hit have not been disclosed in the available reporting, but the back-to-back nature of the strikes signals a deliberate escalation rather than a one-off response. Two days of consecutive US military action against Iran marks a significant shift in the confrontation between the two countries, which have spent years trading pressure through proxies, sanctions, and nuclear brinkmanship without direct military exchange at this scale.

Why the Ceasefire Is Under Pressure

A ceasefire, by definition, requires both sides to stop attacking. Continued US strikes on the second day make it harder for either government to claim the agreement is holding. Iran will face domestic pressure to respond, while the US is signaling it has not exhausted its target list. That dynamic, where both sides have political reasons to act and military capacity to do so, is exactly the condition under which ceasefires collapse.

The strikes also put other parties in the region on alert. Countries with exposure to Strait of Hormuz shipping lanes, energy infrastructure in the Gulf, or alliances with either Washington or Tehran are now recalculating their risk. The Strait of Hormuz is the narrow waterway through which roughly 20 percent of the world's traded oil passes, making it the single most consequential chokepoint in global energy supply.

What This Means for Markets and Energy

Oil markets are acutely sensitive to any threat of disruption in the Gulf. Sustained US-Iran military exchanges raise the probability of Iranian retaliation against tanker traffic or regional energy infrastructure, which traders price in quickly. Even without physical disruption, the uncertainty alone tends to push crude prices higher and weigh on risk assets in emerging markets with high energy import bills, including India.

For India, the stakes are direct. India sources a significant share of its crude from the Gulf region and depends on the Hormuz corridor for imports. Indian refiners and the government would be watching the situation closely for any sign that shipping is disrupted or that insurance costs for Gulf tankers spike, both of which raise the landed cost of oil and, eventually, domestic fuel prices.

Beyond energy, an extended US-Iran confrontation adds friction to global supply chains, elevates risk premiums across Middle East assets, and forces a reassessment of exposure for any business or investor operating in or near the region.

The situation is fast-moving and the publicly confirmed facts remain limited. What is known is that the US conducted strikes on ten Iranian targets across two days, and that a ceasefire is described as being under pressure. The mechanism, who is striking what, what Iran has done or threatened in response, and what diplomatic channels remain active, will determine how quickly this either de-escalates or widens.

The next 48 to 72 hours are likely to be the defining window. If Iran retaliates directly against US assets or Gulf shipping, the conflict enters a new and more dangerous phase. If backchannel diplomacy holds and the strikes stop, markets and governments will recalibrate down from current alert levels. Either way, the second day of attacks has already changed the baseline assumption that a ceasefire was in place and holding.