US-Iran Conflict Escalates: Massive Air Strikes and Drone Counter-Attacks Reported

The conflict between the United States and Iran has intensified significantly over the last 24 hours. The U.S. military launched precision strikes against approximately 90 targets across Iran, focusing on missile and drone storage facilities, naval assets, and critical infrastructure, including a railway line connecting Tehran to Mashhad. Iranian state media reports at least 14 fatalities and 78 wounded, primarily among military personnel. Strikes were also noted near the perimeter of the Bushehr civilian nuclear plant, though officials indicate the facility itself remains intact. In retaliation, the Iranian military deployed "kamikaze" drones targeting U.S. installations and infrastructure in Kuwait, Bahrain, and Qatar. While air defense systems intercepted several projectiles near a Patriot battery in Kuwait and fuel tanks in Bahrain, no U.S. casualties have been confirmed. Amid these hostilities, President Trump announced at the NATO Summit in Ankara that the 14-point Islamabad Memorandum (MoU) is "over," effectively revoking oil export waivers and signalling a return to a maximum pressure campaign. The economic repercussions have been immediate and severe. Global Brent crude oil prices spiked nearly 8%, surpassing $80 per barrel as shipping risks increased in the Strait of Hormuz. Regional markets also reacted sharply, with Pakistan’s Stock Exchange plummeting 4,600 points. While mediator Pakistan has urged both nations to return to the negotiating table, President Trump has warned of "massive, rapid military escalation" should Iranian provocations continue.