Iran Strikes Airbase Hosting US Troops In Iraq, Oil Rises

Multiple missiles fired by Iran struck the Al-Assad and Irbil Airbases in Iraq early Wednesday morning local time. The targeted airbases hosted American troops.

"We are aware of the reports of attacks on U.S. facilities in Iraq. The President has been briefed and is monitoring the situation closely and consulting with his national security team," the White House said in a statement.

The number of causalities hasn't been confirmed.

"The brave soldiers of IRGC's aerospace unit have launched a successful attack with tens of ballistic missiles on Al Assad military base in the name of martyr Gen. Qasem Soleimani. ... We warn all allied countries of the U.S. that if attacks are launched from bases in their countries on Iran, they will be a target of military retaliation," the Iranian military said in a statement, as translated by Axios.

The Iranian retaliation follows the U.S. airstrikes at the Baghdad International Airport last week that killed the head of Iran's elite Quds Force Qasem Soleimani.

The West Texas Intermediate crude futures traded 3.33% higher following the news. Gold futures were up 1.26%.

This is a developing story.