The conflict initiated by the United States and Israel against Iran has escalated across the Middle East, drawing in Lebanon and Gulf energy exporters and threatening global economic stability. On Monday, the third day of the joint assault, new Israeli strikes targeted Tehran, with explosions also heard in Beirut. Iran accused the US and Israel of attacking its Natanz nuclear facility, a key target in a previous conflict. Gulf monarchies responded with threats of retaliation after Saudi and Emirati oil facilities were hit, Qatar halted LNG production, and maritime traffic through the Strait of Hormuz was disrupted, causing energy prices to surge. President Trump warned of further escalation, while four US military members have been reported killed.