The U.S.-Iran conflict, initiated on February 28, 2026 under Operation Epic Fury, continues with no clear resolution in sight. Between August 27 and 30, 2026, artillery exchanges and air strikes along the Thailand-Cambodia border displaced nearly 400,000 people in four days. The Strait of Hormuz, through which roughly a fifth of global oil supply passes, is at the center of tensions, with any disruption to tanker traffic having immediate consequences on energy prices. Energy costs feed into transportation, manufacturing, and food prices.
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