US-Iran conflict escalates in Strait of Hormuz, disrupting global oil markets and raising energy prices

Iran has attacked ships and imposed restrictions in the Strait of Hormuz, a critical waterway for global oil shipments, causing chaos in energy markets and pushing prices above $100 per barrel. In response, the United States has coordinated with Russia, released strategic reserves, and ordered military strikes on Iran's Kharg Island while preparing to escort ships through the strait. The conflict has significantly increased fuel prices in the US and Asia, threatening one of President Trump's key priorities of maintaining low gasoline prices.