US-Iran Conflict Escalates, Disrupting Strait of Hormuz and Driving Oil Prices Above $96

Renewed US-Iran attacks have led to significant disruptions in the Strait of Hormuz, a critical global shipping chokepoint, causing Brent crude oil prices to climb above $96 a barrel. US intelligence suggests Iran may be considering further escalation, while President Trump has threatened strikes on Iranian complexes. Recent events include US airstrikes on Iranian military sites, a US strike reportedly hitting a wedding in Iran, and Iranian retaliation against US bases in the region.