US and Iran exchange airstrikes for a second consecutive day as geopolitical tensions surge.

• A U.S. helicopter was downed in the Strait of Hormuz, triggering continued military escalation on both sides

• A potential preliminary deal discussed in late May 2026 could unblock the Strait of Hormuz and lift U.S. sanctions on Iranian oil exports

• Oil prices have seen a sharp increase due to the escalating military tensions

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