US and Saudi Strikes on Iran-Backed Militias Spark Escalation in Middle East Conflict

The US and Saudi Arabia launched strikes against Iran-backed militias in Iraq, killing at least 20 fighters and six Iranian advisers. The attacks came after an Iranian missile attack on a US base in Jordan.

The US military said it had completed 'a heavy wave of strikes' against Iran, targeting dozens of sites belonging to the Revolutionary Guard Corps, including military command centers and missile facilities.

Oil prices spiked by 7.3% as Brent crude rose to $88.093 a barrel. The conflict has raised concerns about a return to all-out war and the impact on global energy supplies.