US and Iran Exchange Strikes, Escalating Conflict and Driving Up Oil Prices

The United States launched new airstrikes against Iranian military targets, including air defense and radar systems, and minelaying capabilities, in response to Iranian attacks on US forces in Jordan and commercial shipping in the Strait of Hormuz. Iran retaliated with missile attacks on US and allied bases in the region. This escalation has led to a significant increase in global oil prices and heightened tensions in the Middle East.