US-Iran Conflict Escalates as Oil Touches $100, Coalition Talks Advance

The US Navy fired on a vessel trying to break the naval blockade of Iranian ports on Friday, the 13th consecutive night of American strikes on Iran. Washington has vowed "major military punishment" for Tehran and its Houthi allies, while President Donald Trump left the door open to a diplomatic deal. Iran retaliated by firing at US bases in neighboring Arab countries, warning it could also hit non-military buildings used by US personnel.

Oil prices pierced $100 a barrel on the latest escalation, with the Strait of Hormuz shipping lane directly threatened. The US and the UK are planning a high-level meeting in London next week to form an international coalition to protect commercial shipping in the strait, Axios reported. Defense ministers and military leaders from Western and Middle Eastern nations, including US Defense Secretary Pete Hegseth and Joint Chiefs Chairman Gen. Dan Caine, are expected to attend. The coalition would deploy de-mining vessels, naval vessels, and drones to safeguard the waterway.