Iran’s recent ballistic missile strikes on US-operated bases in Jordan, including King Hussein and Al Azraq on August 30, 2026, directly followed a US attack on Iranian rocket launchers at Larak Island in the Strait of Hormuz. These actions occurred amid the broader US-Iran conflict that began in February 2026 and has repeatedly drawn Jordan into the fray due to its hosting of American military facilities. Trader pricing on near-term resolution dates reflects the pattern of Iranian retaliation against perceived US assets on Jordanian territory, alongside ongoing risks of further escalation tied to Hormuz maritime confrontations or proxy activity. Jordanian air defenses have intercepted many prior projectiles, but repeated targeting raises the prospect of additional qualifying military actions before September deadlines. Diplomatic pauses or de-escalation signals could alter the trajectory.