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The war between the U.S. and Iran intensified as American troops were killed and oil prices surged past $100 a barrel, while Ukraine endured another deadly week of fighting.

We also recap Oracle's landmark Pentagon contract, a pivotal Senate race in Maine, and the major stories to watch in the week ahead.

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American forces pounded Iran for a 13th straight night, hitting command centers, drone depots and coastal defenses. Iran's Health Ministry put the death toll near 50, and the Pentagon confirmed U.S. troops had been killed in an attack on a base in Jordan.

President Trump rejected a ceasefire proposal carried by Iraq's prime minister and told Axios he was weighing a "massive attack." Gulf allies braced for a wider war as Iranian drones struck U.S. bases in Bahrain and Jordan.

A Russian ballistic missile killed at least 10 and wounded around 100 at a defense-industry event near Kyiv on Friday. Ukraine answered with hundreds of drones aimed at Moscow, deepening the deadliest exchanges in months.

Days earlier, President Zelenskyy fired his military chief, Gen. Oleksandr Syrskyi, after six days of nationwide protests. Zelenskyy named a younger general, Mykhailo Drapatyi, to steady a war grinding through its fourth year.

Brent crude surged past $100 a barrel for the first time since May after Houthi rebels struck Saudi tankers in the Red Sea. Prices later cooled about 3% on Friday, yet crude still logged a roughly 10% weekly gain.

Red Sea attacks and the effective closure of the Strait of Hormuz choked two vital oil routes at once. Analysts warned that triple-digit crude could reignite inflation across the global economy.

Oracle won a 10-year contract worth up to $7 billion to consolidate the Pentagon's on-premises software. Shares climbed on the news, one of the largest federal software agreements in years.

The deal folds licenses across the military, intelligence agencies and the Coast Guard under a single cloud arrangement. Officials said the consolidation would save taxpayers at least $441 million.

Maine Democrats nominated Troy Jackson on Saturday to challenge Republican Sen. Susan Collins this fall. Jackson won 566 of 571 delegate votes, capping three weeks of turmoil after Graham Platner's campaign collapsed.

A fifth-generation logger, Jackson served two decades in the state legislature, six of them as Senate president. Democrats cast the contest as one that could decide control of the U.S. Senate.

Baseball's trade deadline arrives at 6 p.m. Eastern on August 3, with a logjam of contenders unsure whether to buy. Watch aces like Tarik Skubal, whom the Tigers could move if the bidding turns serious.

A separate batch of country-specific tariffs is set to hit on August 1 unless targeted nations strike deals first. Canada, Japan and South Korea are racing to negotiate, though officials say talks can continue past the deadline.

A new U.S. 25% tariff on Brazil took effect this week, jolting Latin America's largest economy months before its presidential vote. Watch whether the pressure lifts President Lula or his rivals as the campaign heats up.

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This week's biggest stories shared a common thread: growing uncertainty is reshaping global politics, security and the economy. Escalating fighting in the Middle East and Ukraine reminded the world that regional conflicts can quickly spill into energy markets and international diplomacy.

With oil back above $100 a barrel and new tariff deadlines approaching, governments and businesses are preparing for the possibility of higher costs and slower global growth.

At the same time, long-term strategic competition continued beyond the battlefield. Oracle's landmark Pentagon contract highlighted the race to modernize critical government technology, while Maine's closely watched Senate race underscored how domestic politics could influence Washington's direction for years to come.

As the week ahead unfolds, the key question is whether diplomacy can ease mounting tensions—or whether markets, policymakers and voters will have to adapt to an increasingly volatile world.

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—The Five Minute Daily Team