Jordan, a U.S. ally hosting American military forces, has faced repeated drone and missile attacks, which reports suggest are linked to Iranian operations, alongside broader economic challenges and regional instability. Despite these security risks, Jordanian officials have affirmed their commitment to the alliance, while King Abdullah II warned that current global and regional disruptions pose a broad threat to international stability.
Iran conflict incinerates inflation forecasts
Summary
Iran conflict incinerates inflation forecasts The war in Iran has torched the Bank of England's hopes of hitting its inflation target, as traders bet the next move in interest rates will be an increase to curb rising prices. Brent crude has soared to as much as $120 a barrel – its highest level in almost four years – since the conflict erupted a fortnight ago. Tehran's shutting of the Strait of Hormuz has added to the biggest disruption ever in global oil supplies, too. Petrol pump prices, air fares and mortgages have already jumped on the back of the energy shock, sparking fears of an inflation crisis and recession the longer Iran resists US and Israeli attacks. In black and white: The spectre of inflation has forced its way back onto the agenda Rate-setters on the Bank's Monetary Policy Committee are expected to keep the cost of borrowing at 3.75 per cent this week. Before the conflict, it had hoped inflation would fall back to its 2 per cent target – mainly because the Government's energy price cap shielding domestic users drops next month to £1,641 a year, saving about £10 a month for a typical dual-fuel household. But the cap is set to jump to £1,827 from July, more than wiping out those gains. Higher gas prices, which have almost doubled in the last month, will also have fed through by then, said Sanjay Raja of Deutsche Bank. DIY INVESTING PLATFORMS AJ Bell AJ Bell Hargreaves Lansdown Hargreaves Lansdown interactive investor interactive investor Freetrade Freetrade Trading 212 Trading 212 Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.Compare the best investing account for you No comments have so far been submitted. Why not be the first to send us your thoughts, or debate this issue live on our message boards.
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These exchanges followed Iran’s attribution of a deadly wedding strike in Kuhestak to the US, a claim US Vice President JD Vance stated is currently under investigation but disputed by Washington.
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While CENTCOM emphasizes that it does not target civilians and notes that initial reports originated from Iranian state media, Vice President JD Vance confirmed the military is investigating the claims to verify the circumstances.
The Trump administration is combining economic sanctions with renewed military strikes against Iran, a strategy that has failed to compel Tehran to negotiate despite escalating tensions. While President Trump stated he does not consider electoral impacts in his decision-making, the ongoing conflict continues to affect global energy prices and political polling ahead of the midterm elections.