The US Iran conflict continued to escalate on July 18th, and the targets of attacks have extended from military facilities to energy, freshwater, and technological infrastructure. Iran claims that the power facilities and seawater desalination pumps in the Jask region were hit by missiles; The US Central Command has confirmed that it has launched strikes against Iran for the seventh consecutive night, targeting reconnaissance stations, military logistics facilities, underground weapon depots, and maritime targets, and continues to implement a maritime blockade of Iranian ports. Currently, over 50000 US troops are deployed in the Middle East, indicating that this is no longer a short-term retaliation, but rather a preparation for longer-term and larger scale military operations. Iran's counterattack has also escalated significantly, with the Revolutionary Guard claiming to have attacked US facilities in Bahrain, destroyed US unmanned boat storage facilities, and struck an artificial intelligence center used for target positioning. What is even more alarming is that Iran has publicly stated that if the United States continues to strike Iran's infrastructure such as bridges and electricity, it will subsequently include American industrial, technological, and AI assets in the Middle East in its attack scope. The conflict is shifting from mutual attacks on military targets to infrastructure warfare, energy warfare, and technology asset warfare. This is also the core reason why Brent crude oil rose to $88.27. The transportation volume in the Strait of Hormuz has dropped to a three week low, and at the same time, the US military continues to implement a maritime blockade of Iranian ports. Market concerns are no longer just about whether the strait can be navigable, but also about whether port blockades, power damage, attacks on seawater desalination facilities, and continued strikes on regional military bases will ultimately escalate into a larger scale energy supply interruption. If oil prices remain above $85 to $90 for a long time, it will quickly transmit to the costs of gasoline, logistics, aviation, and chemicals in the United States, pushing up CPI and PPI again. The ultimate transmission to the financial market is that liquidity expectations are once again compressed. The US inflation data has just cooled down, and the rise in oil prices has brought back the risk of re inflation. Even if the Federal Reserve does not raise interest rates temporarily, it is more difficult to release signals of easing; US bond yields and the US dollar may continue to strengthen, while overvalued tech stocks, gold, and BTC will enter a more intense divergence. The current market trading is no longer a local conflict, but an energy war that may rewrite the path of inflation and liquidity.