WorldUpdated 49m ago
US-Iran war escalates, global crises deepen
What it means
The US and Iran are in open conflict, with strikes on Iranian islands and ports, and Iran retaliating against US targets in Gulf states. The Strait of Hormuz is effectively closed.
Why it matters
The conflict disrupts global oil supply and shipping, threatens the world economy, and risks further escalation. Meanwhile, wars in Ukraine, Gaza, and Sudan continue, and Europe faces record heatwaves.
How it affects you
Oil prices are above $85 a barrel, raising fuel and transport costs. 30-40% of global air traffic is affected, causing flight disruptions. Heatwaves in Europe and wildfires in Spain may impact travel plans.
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