Conflict in the Middle East escalated overnight as Iran fired ballistic missiles at U.S. forces stationed in the region, bringing a brief diplomatic lull to an end. In response, the United States and Saudi Arabia launched strikes against Iranian-backed militias in Iraq. Saudi Arabia stated that it had intercepted drones targeting its oil facilities for the second consecutive day. The United States, meanwhile, said that all Iranian missiles targeting its forces had been successfully intercepted. As supply concerns resurfaced, international oil prices jumped nearly 4%, with Brent crude rising to about $87 per barrel. The Strait of Hormuz remains effectively closed, with shipping severely disrupted, while attacks by Iran-backed Houthi militants have heightened tensions in the Red Sea region. The conflict has expanded to include Iran, Iraq, Saudi Arabia, and Yemen, raising fears of a wider regional war.