Commodities
US-Iran Conflict Escalates as Oil Prices Soar Above $100
The US has launched a prolonged series of missile strikes against targets in Iran, prompting retaliatory attacks on American bases in neighboring Arab states and causing global crude oil prices to surge above $100 a barrel.
US President Donald Trump threatened to intensify military action, warning that Washington is 'locked and loaded' to target Iranian energy infrastructure, key bridges, and nuclear sites. However, he simultaneously signaled a willingness to pursue diplomatic negotiations to resolve the crisis, stating that 'a smarter strategy is to make a deal.'
The renewed hostilities follow the breakdown of a temporary ceasefire two weeks ago, with US forces conducting airstrikes for 13 consecutive nights.