US-Iran fighting

Renewed hostilities between the United States and Iran have escalated over the past week, leading to a series of explosions near a US military base in Iraq and sirens in Bahrain. The conflict, which has seen the US conducting strikes against Iran for thirteen consecutive nights, has also involved Iran attacking ships in the Strait of Hormuz and targeting US assets and allies. This surge in fighting has significantly impacted global markets, pushing oil prices to a one-month high as concerns grow over the stability of the Strait of Hormuz, a crucial route for global oil transport. The ongoing confrontation highlights the volatile geopolitical situation in the region and its direct consequences on international trade and security.