IranUpdated 0m ago
US and Iran resume conflict, Strait of Hormuz closed
What it means
US strikes Iran for third night, reimposes naval blockade. Iran closes Strait of Hormuz and attacks US bases in Bahrain, Kuwait, Jordan, Oman.
Why it matters
The Strait of Hormuz closure threatens global oil shipping. Ceasefire collapse and regional strikes risk broader war involving Gulf states.
How it affects you
Oil prices expected to rise, potentially to $120 per barrel, increasing costs at the pump and for goods shipped via oil.
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