The six-month-old conflict between the U.S. and Iran escalated sharply after U.S. forces destroyed five Iranian oil tankers in the Gulf of Oman and near Kharg Island. In retaliation, Iran launched 20 ballistic missiles at a U.S. military base near Al Azraq, Jordan, with Jordanian air defenses intercepting 18 of them. Amid the military exchanges, Brent crude oil prices surged past $100 a barrel for the first time since July, while the Trump administration imposed sweeping new sanctions on Iran's aviation sector.
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