Iran and the United States continued launching attacks on Tuesday, marking the tenth day of renewed fighting despite diplomatic efforts to salvage a collapsed interim deal.
An Iranian minister visited Pakistan, a key mediator in the region, in an attempt to keep diplomatic channels open, though no new arrangement has been confirmed to end the hostilities.
The persistence of military action undermines the recently agreed diplomatic roadmap aimed at resolving the conflict within 60 days.
Iran has continued to target shipping lanes and launch attacks on Bahrain and Kuwait, defying the ceasefire framework.
Gulf Cooperation Council members and Jordan have issued joint condemnations of the repeated assaults on Qatar, Bahrain, Kuwait, Oman, and the United Arab Emirates, highlighting the broad regional impact of the escalation.
For markets, the continuation of strikes maintains a risk premium on energy assets.