Gulf Tensions Soar: Iran Vows 'Powerful Response' as US Strike Odds Rise

• Tensions between Iran and the US have escalated, with Iran reinforcing its defiant rhetoric and military signaling near the Strait of Hormuz.
• Iran's government stated it will "defend itself and respond like never before" to US threats, raising concerns about regional escalation.
• Prediction markets now price the probability of a US strike on Iran before June at over 70%, indicating high geopolitical risk.
• Hard-line Iranian voices warn foreign forces of overwhelming resolve if hostile actions are attempted.
• Iran plans "live-fire" military drills in the Strait of Hormuz to demonstrate control over the vital oil chokepoint, impacting energy markets.

Why It Matters: Gulf tensions are critically high as Iran threatens retaliation and US strike probabilities surge, impacting global markets.