Tensions between the United States and Iran escalated sharply as both sides threatened to attack energy infrastructure across the Gulf, raising fears of a wider regional war and severe global economic fallout. President Donald Trump warned he would 'obliterate' Iran’s power plants within 48 hours if Tehran did not fully reopen the Strait of Hormuz, a critical shipping lane that carries roughly a fifth of the world’s oil and liquefied natural gas supplies.

Iran responded by warning it would target United States energy, information technology, and desalination facilities in the region if its own infrastructure were attacked. Iranian missile strikes triggered air raid sirens across Israel and expanded in range, while Israeli forces launched retaliatory strikes on Tehran and conducted operations in Lebanon. The conflict, now in its fourth week, has killed more than 2,000 people and intensified fighting across multiple fronts.

Oil prices have surged to their highest levels in nearly four years as the near-closure of the Strait of Hormuz disrupts global energy flows. European gas prices have also spiked, and analysts warn of severe market turmoil if the standoff worsens. The war has strained Western alliances and sparked domestic political pressure on Trump, with public opinion polls showing growing opposition to the military campaign.