Despite President Donald Trump's decision to halt the escalating war against Iran, the ongoing conflict continues, despite the president's backing down on escalating the conflict. The International Energy Agency chief Fatih Birol warned that the world is facing a worse energy crisis than the 1970s and the impact of the Ukraine war. Despite this, Iran has refused to capitulate to the American-Israeli assault despite the deaths of its supreme leader and senior officials. The Islamic Republic has threatened to strike electricity targets across the Gulf and possibly mine the Persian Gulf if it faces a coastal invasion. Meanwhile, oil prices have risen globally, with retail gas prices rising 93 cents per gallon and the price of U.S. crude oil increasing by over 70% since the start of the year.