Iran‑US Gulf confrontation pushes oil prices higher as Pakistan seeks mediation

Iran warned it would destroy regional infrastructure if U.S. attacks continue, echoing Tehran’s reply to President Donald Trump’s threat to hit Iranian power plants and bridges. The Iranian military said its drones struck U.S. radar, Patriot and fuel‑storage sites at the Ali al‑Salem base in Kuwait and at military facilities in Bahrain, while Jordan intercepted eight Iranian missiles aimed at its territory.

Pakistan urged both sides to halt hostilities and resume negotiations, emphasizing the need to reopen the Strait of Hormuz for the free flow of oil and gas. The United States meanwhile approved a weapons sale of nearly $2 billion to Saudi Arabia. Oil markets reacted, with Brent crude climbing to $85.30 a barrel and WTI rising to $80.13.

The escalation deepens fears of a broader Gulf conflict, with Houthi groups also threatening Saudi oil assets and rising fuel prices feeding inflationary pressures across the region.