US-Iran Conflict Escalates Again as Ceasefire Collapses

The fragile ceasefire between the United States and Iran has effectively collapsed, triggering a fresh wave of military escalation across the Middle East. Speaking at the NATO summit in Ankara, US President Donald Trump declared that the truce was "over," while adding that diplomatic contacts could continue despite describing further negotiations as futile. Iran, meanwhile, accused Washington of violating the memorandum of understanding (MoU) after fresh US strikes targeted military assets and infrastructure linked to operations around the Strait of Hormuz.

The renewed conflict has intensified military activity across the region, with reports of missile, drone, and air strikes by both sides, while attacks on shipping in the Strait of Hormuz have heightened concerns over global energy supplies. The United States has also tightened restrictions on Iranian oil exports, contributing to a sharp rise in crude oil prices and volatility in global financial markets. Indian markets witnessed heavy selling pressure, while the rupee weakened against the US dollar amid growing uncertainty over the geopolitical situation.