Trump issues 48-hour ultimatum to Iran as Middle East tensions spike energy markets.

Trump issues 48-hour ultimatum to Iran as Middle East tensions spike energy markets. Global fuel prices have reached historic peaks, with German diesel hitting a record 2.415 euros per liter and Pakistan raising fuel costs by up to 55 percent. Israel is preparing targeted strikes on Iranian energy infrastructure, including the South Pars gas field, pending U.S. approval. The conflict is already impacting critical infrastructure across the Gulf region, with Iranian drone attacks damaging Kuwaiti and Bahraini power and water facilities. The U.S. has proposed a massive 40 percent increase in defense spending for 2027, requesting 1.5 trillion dollars for munitions and missile defense systems. Energy supply disruptions continue to tighten markets worldwide as geopolitical tensions escalate further.