Escalation in US-Iran Conflict, Iran's Iconic Bridge Bombed, Spot Crude Oil Surges Past $140, Reaching New High Since 2008

**US, Israel Strike Iranian Bridge; Iran Vows Retaliation, Oil Prices Surge** April 3rd — The U.S. and Israel targeted Iranian infrastructure Wednesday, bombing the iconic Beiyek Bridge on the Beyk Highway in Kalaj-e Karim, Iran. The bridge—billed as the Middle East’s highest, a landmark engineering project, and part of the Tehran-Kalaj corridor core—was damaged ahead of its planned opening. Iran immediately vowed retaliation, launching its *Real Commitment Operation Round 90* in response. ### Market Reaction - WTI crude oil jumped nearly 15% intraday, settling above $110 for the first time since 2022. - Brent spot prices skyrocketed above $140, hitting their highest level since 2008. ### Latest Developments #### Iranian Actions/Statements - Deputy Foreign Minister Gharibabadi: Iran is drafting a transit agreement with Oman for the Strait of Hormuz. - Launched the 90th wave of its operation, striking U.S.-linked metal industry facilities. - Partial power outages reported in Alborz province. - Islamic Revolutionary Guard Corps (IRGC): Will expand target ranges and accelerate removing U.S. presence from the region. - IRGC Fat’h unit commander killed in recent clashes. - Claimed to shoot down an “enemy” fighter jet over Geshm Island (Strait of Hormuz); U.S. Central Command denied the claim. - Said it targeted Oracle and Amazon data centers in the Gulf; UAE’s Dubai Media Office denied an attack on a local Oracle facility. - Fars News (Iranian outlet) listed bridges in Kuwait, Saudi Arabia, Abu Dhabi, and Jordan as potential targets. #### U.S. Actions/Statements - Former President Donald Trump: Delivered a national address claiming victory, vowing “fierce strikes” against Iran in 2–3 weeks, and asserting the Iranian regime has changed. - U.S. Navy Ford-class aircraft carrier preparing to rejoin operations against Iran. - U.S. intelligence assessment: After 5 weeks of U.S.-Israel strikes, ~50% of Iran’s missile launchers, thousands of drones (50% of national drone capability) remain intact; most coastal defense cruise missiles undamaged. - U.S. Embassy in Iraq: Urged all U.S. citizens to depart Iraq immediately. - Trump statement: *“Iran’s biggest bridge has fallen down. They will never be able to use it again—The following will be even more! It is time for Iran to make a deal, before it’s too late. Everything that had the potential to become a great nation will soon be gone!”*