The Middle East crisis has resulted in a staggering loss of over $50 billion in crude oil production since the onset of conflict nearly 50 days ago, with more than 500 million barrels of oil removed from the global market. Analysts indicate this disruption is unprecedented and could have lasting effects on global energy supply. Iran's chief negotiator, Mohammad Bagher Ghalibaf, reported progress in negotiations with the US regarding nuclear issues and the strait of Hormuz but acknowledged that significant gaps remain. Meanwhile, President Donald Trump praised Israel as a crucial ally in the conflict, asserting that other allies have revealed their true colors during this crisis. The situation escalated further as Iranian forces reimposed restrictions on the strait of Hormuz following the US's refusal to lift its blockade of Iranian ports. Reports indicate that Iranian military vessels have engaged in hostile actions against tankers in the strait. As tensions rise, a senior US official warned that without a breakthrough in peace talks, the war could resume imminently. The conflict has also impacted humanitarian operations, with UNICEF suspending activities due to violence in the northern Gaza Strip.