US escalates strikes on Iran as Gulf crisis deepens and oil surges

The United States launched a new wave of strikes on Iranian Revolutionary Guard targets after Tehran’s attacks on American troops and commercial ships, signaling a renewed escalation six months into the war. Iran warned it would respond with heavy costs as tensions around the Strait of Hormuz intensify. Oil prices jumped, with Brent up about 4.4% to roughly $94.45 a barrel and WTI up about 5% to around $90.11, while US 10-year yields nudged higher near 4.79%, reflecting inflation concerns. The clash follows a collapsed June ceasefire framework and ongoing disputes over sanctions and maritime traffic, with Washington indicating it will not revive the interim deal as it seeks to pressure Tehran.)