US-Iran war fears mount as military signals build, economic misery deepens inside Iran and Washington prepares escalation options

Iran struck at least 24 commercial vessels near the Strait of Hormuz over a two-week period, according to the Institute for the Study of War, despite US strikes having severely degraded Tehran's radar capability. Both the George Washington and the George HW Bush are now operating in the Arabian Sea as tensions escalate on both sides. IRGC deputy commander Major General Mostafa Izadi declared Iran "ready to carry out the most powerful operations," while Iran's army chief warned that any assault on infrastructure would draw retaliatory strikes against Israeli and allied targets. Iran's National Security Council secretary Mohsen Rezaei put US data centres and AI infrastructure on notice, warning they would be "within range" if fighting resumes.

Britain's Royal Navy-linked UKMTO recorded at least seven additional shipping incidents in the Strait area between Monday and Wednesday alone.

US inflation surged to 3.7% last month, with gas price rises accounting for more than half the increase, piling pressure on Republican congressmen ahead of November's midterms.