What's Happening
The U.S. struck Iranian oil infrastructure at Kharg Island, triggering a major fire at a UAE port and prompting Iran to urge Middle East nations to expel American military forces. President Trump claims Russian leader Putin is helping Iran, while evacuation orders have been issued in Doha, Qatar as the conflict spreads regionally.
Market Impact
Oil prices are spiking as supply concerns mount; stock markets ended the week down as the economic risks of the war become tangible for American households. Gas prices at the pump are rising directly from the supply squeeze in the Persian Gulf.
Broader Implications
Regional escalation threatens to destabilize the entire Middle East and could draw more nations into the conflict. The geopolitical rift between the U.S., Russia, and Iran is hardening, with potential consequences for global energy markets and military posture.