Tensions escalate between the U.S. and Iran, risking full-scale war and destabilizing the West Asian region and global economy.

The U.S. and Iran traded heavier strikes Thursday as a weeklong escalation threatened to unravel last month's truce, though Tehran's release of a...

The interim ceasefire agreed to last month has collapsed, and the region has endured days of back-and-forth attacks by the U.S. and Iran as they battle for control of the Strait…