The US-Iran conflict escalated on May 28 as Iran claimed it struck a US military base in retaliation for fresh American airstrikes on Iranian military sites.
The US confirmed strikes on Iranian military targets despite an ongoing fragile ceasefire and peace negotiations. Iran subsequently claimed to have targeted a US base, though US officials have not confirmed this.
International oil prices surged sharply following the attacks, with markets concerned about potential disruption to oil shipments through the Strait of Hormuz — a critical chokepoint for roughly one-fifth of global oil supply.