**Escalating Conflict: U.S. and Israel Launch Strikes Against Iran** A series of tit-for-tat strikes on energy plants has sent global energy prices spiraling, sharply escalating the U.S.-Israeli war on Iran. The conflict has already killed thousands of people, spread to neighboring nations, and hit the global economy since the United States and Israel launched strikes on February 28, after talks about Tehran's nuclear program failed to yield a deal. The latest escalation began on Thursday, when Iran responded to an Israeli attack on a major gas field by hitting Qatar's Ras Laffan Industrial City, which processes around a fifth of the world's liquefied natural gas. The attack caused significant damage, which will take years to repair. Saudi Arabia's main port on the Red Sea, where it has been able to divert some exports to avoid Iran's closure of the Gulf's exit point, the Strait of Hormuz, was also attacked. **Energy Prices Soar** Energy prices jumped on Thursday, with the global market reacting to the escalating conflict. The strikes underscored Iran's continued ability to exact a heavy price for the U.S.-Israeli campaign, and the limits of air defenses in protecting the Gulf's most valuable and strategic energy assets. The Strait of Hormuz, the conduit for around a fifth of the world's oil, remains a key point of contention in the conflict. **Trump's Warning to Israel** U.S. President Donald Trump has warned Israel not to repeat its attacks on Iranian energy infrastructure. In a press conference on Thursday, Trump said, "I told him, 'Don't do that', and he won't do that." Trump's comment came as he faces growing pressure from his core voters ahead of November's midterm elections, with rising fuel prices a major concern. **Escalating Military Action** The conflict has seen significant military action, with Iran launching a new wave of missiles toward Israel on Thursday, according to Israel's military and Iran's Islamic Revolutionary Guard Corps. Israel's military said late on Thursday that the Air Force had carried out over 130 strikes on targets in western and central Iran over the past 20 days. The conflict has also seen a significant increase in troop deployments, with a U.S. official and three other people familiar with the planning telling Reuters that Trump was considering sending thousands more U.S. troops to the Middle East.