U.S. service members killed, Iran suspends peace agreement commitments

Iran's Supreme Leader Ayatollah Mojtaba Khamenei announced that the country has 'unforgettable lessons in store' for the U.S. after American forces concluded a seventh night of strikes against Iran. The U.S. military reported two service members killed in Jordan and another missing in action, bringing total confirmed deaths to 16 since February 28. Iran also announced the suspension of its commitments to the Islamabad Memorandum of Understanding with the U.S., citing violations by the U.S. This escalation in military conflict could have significant implications for markets, particularly regarding oil prices and geopolitical risk for investors.