A senior unnamed Iranian source told Reuters on 2026-08-31 that the overnight hostilities between the United States and Iran remain a 'limited and contained confrontation.' ^[1] Oil prices surged following news about the Strait of Hormuz and the potential escalation of the US-Iran conflict. ^[2] US forces attacked an Iranian missile boat in the Strait of Hormuz on Sunday. ^[3] The United States and Iran exchanged attacks for the first time in a month during the night of Monday. ^[4] Federal Reserve Chair Kevin Warsh stated at the Jackson Hole meeting that the Fed will take action if there is insufficient confidence that inflation is moving toward the 2% target. ^[5] Spot gold prices fell 0.3% to $4,437.10 per ounce as of 02:35 GMT on the second trading day of the week. ^[6] The Indonesian rupiah closed at Rp17,744 per US dollar on September 1, 2026, marking a decline of 22 points or 0.12% from the previous day's closing level of Rp17,722. ^[7] The senior Iranian source added on 2026-08-31 that no target in the region was beyond the reach of Tehran. ^[8] The senior Iranian source stated to Reuters on 2026-08-31 that Tehran was ready to deliver a 'harsh response' if attacked again. ^[9] The senior Iranian source told Reuters on 2026-08-31 that conditions in the Strait of Hormuz would become worse for vessels that violate rules set by Tehran for passage through the waterway. ^[10] European gas prices reached their highest level since 2023 after the same news about the Strait of Hormuz and the US-Iran conflict. ^[11] The strike ends a pause in the intermittent combat between the United States and Iran. ^[12]