US-Iran conflict intensifies with military escalation and economic fallout. The US announced deeper strikes into Iran as Defense Secretary Pete Hegseth stated Iran's military capabilities are "evaporating by the hour." Meanwhile, Tehran rejected peace negotiations, with officials declaring no intention to engage with American diplomacy. The conflict, ongoing since February 28, has claimed over 1,000 lives in Iran and dozens across the region. Energy markets remain volatile, with Brent crude falling 0.7 percent to $80.80 per barrel after Trump pledged US Navy escort operations through the critical Strait of Hormuz shipping route. Oil and natural gas prices surged since hostilities began but stabilized following the announcement. The prolonged conflict continues to stress global financial and energy markets as both sides show no signs of de-escalation.
