Expansion of U.S. strikes on Iran leads to more retaliation across the Gulf

Expanded US strikes on Iran have triggered increased retaliation across the Gulf region. Consequently, Benchmark Brent crude traded above $86 a barrel, while regular gasoline in the US reached an average of $4 a gallon, increasing financial pressure on Americans before the upcoming midterm elections. Despite the growing risk of an all-out war between the US and Iran, some glimmers of hope have emerged on the diplomatic front as both nations navigate the escalating tensions.