Defense expert Cameron Chell called Iran's military moves a "calculated escalation" as U.S. MQ-9 Reaper drones with strike capabilities were reportedly spotted in the region.

President says US has ‘some work’ to do with Iran as representatives from more than 45 countries attend Trump-run initiative

Oil prices could surge depending on the level of disruption from U.S. military strikes on Iran, Wall Street analysts say.

The second round of talks in Geneva about Iran's nuclear program takes place as the United States ramps up its military presence in the Middle East and Iran holds large-scale maritime exercises.

It was the first time Iran has announced the closure of the key international waterway, through which 20% of the world's oil passes, since the U.S. began threatening Iran and rushing military assets to the region.

Iran asserts its right to nuclear enrichment, dismissing foreign attempts to limit its nuclear program amid rising tensions with the U.S.