Iran War Update: Trump Weighs Bigger Strikes as Oil Tops $100

What's Happening

President Trump huddled with top advisers Friday to decide whether to ramp up military action against Iran, as a five-month conflict shows zero signs of cooling off. A recent cease-fire collapsed, and both sides have now traded attacks for 13 straight nights. This isn't a one-off strike — it's a grinding, ongoing exchange with no clear off-ramp.

The Overnight Escalation

U.S. forces hit Iranian military assets overnight, including drone storage sites, aiming to protect commercial shipping through the Strait of Hormuz — one of the world's most critical oil chokepoints. Iran responded with drone attacks on U.S. bases in Bahrain, Jordan, and Kuwait. No damage or casualties were reported, but Iran's Revolutionary Guard issued a chilling warning: anyone near buildings suspected of housing U.S. personnel should stay at least 500 meters away. That's not a de-escalation signal — that's a country bracing for more.

Why Trump's Next Move Matters

Trump told Axios he doesn't expect Israel to join any larger U.S. strike he's considering, reasoning that Israel could face brutal retaliatory bombardment from Iran if it does. That's a notable statement — it suggests Washington may be weighing solo action rather than a fully joint offensive, a shift from the coordinated approach Netanyahu pushed for back in February.

Speaking of Netanyahu, he's set to meet Trump for the first time since that February pitch for a joint offensive — the same offensive that arguably set this whole war in motion weeks later. Netanyahu is also expected at Senator Lindsey Graham's funeral, adding a somber, high-stakes backdrop to an already tense diplomatic moment.

The Money Angle: Oil Above $100

Here's where this war reaches your wallet even if you're nowhere near the Persian Gulf. Oil prices spiked above $100 a barrel for the first time since May, directly tied to fears over Strait of Hormuz shipping disruptions. Prices eased slightly by Friday afternoon, settling just under that mark, but the volatility is a real-time gauge of how nervous markets are about this conflict widening.

What to Watch Next

There's also a wildcard brewing: reports suggest Houthi forces in Yemen may be looking to expand the fight, which would add another front and another shipping-lane headache. Combine that with an undecided Trump on further strikes, an unresolved cease-fire collapse, and a pivotal Trump-Netanyahu meeting on the calendar, and this story is nowhere near settled. The next few days — particularly what comes out of that Trump-Netanyahu sit-down — could determine whether this stays a grinding standoff or tips into something bigger.