Amid rising tensions in the Middle East, Israel has approved a major defence deal to acquire new squadrons of advanced F-35 and F-15I fighter jets from the United States. The move comes at a time when the conflict involving Iran and the United States remains volatile, with fears that hostilities could resume despite ongoing diplomatic efforts. Iranian military officials have openly warned that the war could flare up again, signaling preparedness for any further escalation.

At the same time, the economic fallout of the conflict is intensifying, particularly in global energy markets. The closure of the strategically critical Strait of Hormuz has severely disrupted oil exports from major producers, pushing crude oil prices above $125 per barrel. Countries within the OPEC+ alliance are struggling to maintain supply levels, with production dropping sharply due to logistical constraints and shipping disruptions. Even planned increases in output are expected to remain largely symbolic unless maritime routes are restored.

Diplomatic efforts appear strained, with Donald Trump expressing dissatisfaction with Iran’s latest peace proposal, stating that its demands are unacceptable. Iran, on the other hand, continues to insist its nuclear programme is peaceful while demanding sanctions relief and broader concessions. Reality check: this situation is no longer just a military standoff — it’s a combined geopolitical and economic crisis. With oil supply choked, global markets unstable, and both sides unwilling to fully compromise, the risk of a second phase of conflict remains very real.