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To be clear
America or Israel bombed regular armed forces of Iraq. Not some random militia group but the actual army of Iraq.
That is not good
Some other observations
Iran now controls the movement of around 20% of the world's oil
Basic supply and demand will cause the price of oil to rise
But that rate of movement means a volume of oil that passes through the system to the nations of the world on a daily basis.
A portion of that volume is no longer available. So, not only will rich nations be paying far higher prices, but poorer nations will also simply NOT have oil. These are nations with limited or no reserves or alternatives to rely on. That means these poorer nations will not have power for industry, for hospitals, for schools, for their economy. This war will cause massive harm to these countries
Israel is expanding its war on Lebanon even further expanding their "buffer zone", which in reality is Israel seizing recognized land from Lebanon.
In my opinion America MUST divest itself from this aggressor, immoral, genocide committing, criminal nation. Only then could Israel reverse course to the liberal democracy they need to be.