US and Saudi forces conducted a joint military operation targeting Iran-backed militants in Iraq on Wednesday, responding to recent attacks. This action follows a brief lull in direct hostilities involving Iran. The coordinated strike occurred during a meeting between President Trump and Israeli Prime Minister Netanyahu in Washington, their first face-to-face discussion since the escalation of the Middle East conflict. The operation has sparked concerns about regional stability and potential disruptions to global oil supplies. Consequently, crude oil prices saw a significant increase, jumping over four percent. The Strait of Hormuz, a critical shipping lane, is at risk of further disruption, amplifying anxieties about supply chain vulnerabilities. This escalation signals a renewed intensity in the complex geopolitical landscape of the Middle East.