U.S.-Iran Conflict Escalates as Oil Prices Soar

The U.S. and Iran have escalated their conflict in the Middle East, with both sides trading blows in a series of airstrikes and missile attacks. The latest exchange marks the sharpest escalation in weeks, with global oil prices climbing more than four dollars a barrel on Tuesday.

According to Reuters, the U.S. military completed a fresh wave of airstrikes against Iranian military targets, including radar systems, air defense sites, maritime assets, communications infrastructure, and mine-laying capabilities. The IRGC installations targeted by the U.S. were located in various parts of Iran, with one strike hitting a home in Kuhestak where a wedding ceremony was underway.

Iran responded to the U.S. airstrikes by firing ballistic missiles and drones at American assets across the region, including U.S. bases in Jordan, Bahrain, and Iraq. The IRGC claimed to have targeted a U.S. base on Jordan's Gulf of Aqaba coast, but Jordan's military said it intercepted 10 of the incoming ballistic missiles.

President Donald Trump ruled out negotiations with Iran, saying he preferred the current military posture which gives the U.S. near-total control of the Strait of Hormuz while Iran's economy collapses. He warned that any Iranian retaliation would bring a significantly harder American military response.