US-Israel Strikes Ignite Iran War, Spike Oil

The conflict escalated from long-standing tensions over Iran's nuclear program, ballistic missiles, and regional influence, following failed nuclear deal renegotiations and Iran's weakened state from sanctions and prior conflicts. Iran's response targeted U.S. embassies, military installations, and critical oil infrastructure, including vessels in the Strait of Hormuz, leading to fuel shortages in Asia and a sharp increase in global oil prices.

Hostilities also resumed between Israel and Hezbollah in Lebanon, prompting Israeli ground operations and displacing over 1 million people. President Trump's administration sent mixed signals regarding regime change, while international reactions ranged from condemnation to calls for restraint, with Russia showing limited interest in intervention.