US-Iran Strikes Escalate, Hormuz Control Disputed

The United States launched a new wave of strikes against Iranian military targets over the weekend, prompting Iran to retaliate with attacks on US-linked facilities in Bahrain, Kuwait, and Oman.

Both nations claimed dominance over the Strait of Hormuz, a critical chokepoint for global oil shipments, raising fears of a prolonged disruption.

Oil prices jumped more than 4%, with Brent crude surpassing $79 a barrel, as shipping traffic through the strait slowed to its lowest level in weeks.

Diplomatic efforts to revive the ceasefire faltered, with Iran warning it would not comply with the agreement unless the US upheld its commitments.