The U.S. has launched airstrikes against Iraq, targeting two control and communication facilities outside of Baghdad, reports this afternoon said.

The

Philadelphia Stock Exchange Oil Service Index

spiked on the news, and recently climbed 1.99, or 1.6%, to 129.52.

The attack, the first against Baghdad since Feb. 24, 1999, was reportedly carried out by U.S. and British aircraft. The facilities were outside the no-fly zone south of Baghdad, according to reports that quoted the Pentagon.

Reports said witnesses heard air-raid warning sirens in Baghdad about an hour ago, just before large explosions started. Iraqi television changed from its regular programming to broadcasting national songs.

The Pentagon will hold a briefing at 2:30 p.m. EST.