US-Iran Hormuz Escalation: The US and Iran traded strikes again after a month-long lull, with Washington hitting rocket launchers on Larak Island and Tehran retaliating against US-linked bases in Jordan and the UAE, raising fresh maritime safety and shipping disruption fears as Hormuz remains a key chokepoint. Trump Retaliation & Messaging: Donald Trump vowed to “hit them hard” and signaled further limited action, while Iran called for dialogue even as it threatened “response and punishment,” keeping energy market volatility front and center. Oil Prices Jump: Brent pushed back above $90 as traders priced in renewed risk to Gulf flows and insurance costs, with only a handful of visible vessels reported transiting Hormuz daily. Sanctions Pressure: The US Treasury reiterated economic pressure on Iran, targeting banks and intermediaries, while officials framed the campaign as aimed at constraining Tehran’s ability to sustain the conflict. Regional Logistics Hit: Reports pointed to higher freight and war-risk costs spilling into regional trade, including sharp shipping-rate spikes affecting exporters. Defense & Mobility: The US approved a possible $800M helicopter sale to Iraq, supporting rotary-wing transport and reconnaissance—an important transport capability boost amid regional instability. Piracy Response: Somali and Turkish navies freed a hijacked cargo ship and killed 14 pirates, underscoring ongoing maritime security needs off the Horn of Africa.