US-Iran Conflict Escalates as Oil Prices Surge Amid Disrupted Strait of Hormuz

The US and Iran have escalated their conflict in recent days, with both sides engaging in attacks that have pushed oil prices higher. The latest exchange began after Washington said it struck Iranian military targets in response to attempted Iranian attacks on commercial shipping in the Strait of Hormuz and US forces in the region.

Iran responded by launching missiles and drones targeting US assets in Jordan, Bahrain, Kuwait, and Iraq. The IRGC also claimed that its missile and drone attack on Kuwait's Ali Al Salem Air Base targeted a US commander's accommodation and drone facilities.

The renewed fighting has disrupted the Strait of Hormuz, with only a handful of ships making the passage each day. Brent crude climbed above $95 a barrel as oil prices surged due to the conflict.