US-Iran Strikes Escalate, Brent Crude Tops $100 as Trump Ties War's End to Election

Direct US-Iran military exchanges have intensified sharply: Iran struck a US base in Jordan and threatens a "20 for 2" retaliation doctrine, while US forces say they destroyed multiple Iranian tankers. A drone strike on a tanker in Iraqi waters and attacks on Saudi energy infrastructure pushed Brent crude above $100 a barrel, with no diplomatic off-ramp in sight. Trump's admission that this is a "war," alongside Iran's demand for an Israeli withdrawal from Lebanon, marks a widening of the conflict into direct US-Iran confrontation across the Gulf.