US and Iran Exchange Strikes Amid Escalating Tensions in Strait of Hormuz

Tit-for-tat attacks between the United States and Iran have escalated, further eroding a fragile three-week-old ceasefire and raising concerns about global energy supplies through the critical Strait of Hormuz. U.S. forces reportedly struck approximately 90 Iranian military targets, including air defense systems and missile sites, while Iran responded with drone and missile strikes at U.S. bases in Kuwait, Bahrain, and Qatar. The ongoing conflict has brought renewed focus on oil prices and their potential impact on global inflation.