- The US and Iran traded strikes this week and both warned they would retaliate if attacked again — leaders say they don’t want full-scale war, but tensions remain high.
- Oil and shipping were rattled: two tankers were reportedly hit near the Strait of Hormuz and Brent crude jumped on fears of supply disruption.
- Economic pressure is mounting — Washington is threatening sanctions while Iran’s currency has plunged and its central bank plans up to $2 billion of market support.
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