Middle East Tensions Escalate Amid Iran War Concerns, Driving Oil Prices Higher

Geopolitical tensions in the Middle East have intensified, with Iran reportedly preparing plans to target Gulf undersea internet cables if war resumes. The United States has accelerated the evacuation of diplomats and their families from Middle East embassies due to escalating tensions and intelligence regarding assassination plots. An Iranian military commander stated that U.S. warships would not be permitted in the Persian Gulf or near Iranian territorial waters. These developments contribute to a significant rise in oil prices, with crude up 85% this year and Brent hitting $117, posing a threat to the global economy.