Day 6 of the escalating US–Iran regional war is raising fears of a wider global conflict. In this update, we break down the latest strikes across the Gulf, Iran’s retaliation targeting oil infrastructure and US assets, and the growing political backlash inside the United States. We also examine how the conflict is disrupting global energy flows through the Strait of Hormuz, the risk of a ground invasion in northwest Iran, and the wider economic consequences for countries from Europe to Asia — including South Africa.