Iran military action against a gulf stateU.S. air defenses reportedly intercepted and destroyed at least two Iranian ballistic missiles over Jordan, according to a social media source. The interception marks a significant escalation, as it involved direct defensive action against Iranian missiles in Jordanian airspace. AdvertisementKey TakeawaysThe reported U.S. interception of Iranian missiles over Jordan suggests rising military tensions in the Middle East. Market pricing appears to reflect increased concerns about potential Iranian military action against Gulf states in retaliation. Odds for Iranian action against Gulf states on July 30 have increased from 11% to 16% in the past 24 hours.