Explosions heard at Jordanian air bases

A series of explosions has been heard at Jordan's Al-Azraq Air Base, according to Ynet among other sources. The blasts are believed to be the result of Iranian missiles being intercepted in the north of the country.

Earlier on, the Muwaffaq al Salti Air Base also came under reported attack.

The US has not yet issued a response, possibly because financial markets are currently open. Iran has begun launching pre-emptive strikes, and the US, should it decide to retaliate, will have three days of closed markets to do so.

West Texas Intermediate crude last traded at $91.01, down 32 cents, with a daily range between $88.72 and $92.17 amid volatile trading. Looking at the bigger picture, the price is testing the upper boundary of the recent range.

Separately, Axios reports that Donald Trump's team is developing a post-conflict strategy centered on regional containment of Iran and broadening normalization between Israel and neighboring states.