US and Iran strike escalate with Trump involved oil exceeds 100

The region has experienced an escalation of military tensions between the United States and Iran, as the US carried out a new wave of strikes against Iranian targets deep within Iran and military sites in the area. Iran responded by targeting US military installations in Bahrain, Jordan, and Kuwait, including the destruction of warehouses, storage facilities, and data centers, along with drone attacks on sites associated with Iranian opposition. This escalation has led to increased regional tensions, causing oil prices to rise above one hundred dollars per barrel before falling back to around $97 for Brent and $89 for West Texas crude. Iran confirmed that it will continue retaliatory attacks and warned that it will not accept a temporary ceasefire, with warnings of further escalation, which the UN Secretary-General described as being beyond control.

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