US-Iran Ceasefire Ends Amid Escalating Military Strikes and Rising Oil Prices

The fragile ceasefire between the United States and Iran has collapsed following new US military strikes on Iran, which were a response to Iranian attacks on commercial vessels. Iran retaliated by targeting Bahrain and Kuwait, further intensifying the conflict. This escalation has caused global oil prices to surge and led the IMF to downgrade its 2026 global growth forecast due to increased inflation risks.