An explosion after U.S.-Israeli airstrikes hit oil storage depots in Tehran. The war has tangled supply chains and caused oil, gas and fertilizer prices to gyrate for months.
Oil prices jumped after the United States and Iran exchanged fire for a second day, heightening fears that the two countries could slide back into open conflict.
It is unclear if the U.S. intentionally struck the facility or knew what it was. Deliberately targeting civilian infrastructure could constitute a war crime.
A U.S. military official said the president’s seemingly dramatic announcement on Wednesday referred to a previously reported effort to shepherd commercial vessels through the Strait of Hormuz.
Speaking at a bill signing on Wednesday, President Trump predicted that inflation would recede quickly, once the Iran conflict concludes.“ It’s going to come down like a rock.”
As the Iran war drags on, Oman — a U.S. ally and mediator with Iran — has found itself at odds with the Trump administration and some of its own neighbors.
With the cease-fire proving tenuous, negotiations between the two nations are in flux, but have advanced to outline potential paths forward on difficult questions about Iran’s nuclear program.
The bombardment followed Israeli evacuation warning for the entire city, a day after Iran threatened to attack Israel again if it kept up its offensive against Hezbollah in Lebanon.
Opponents attacked Prime Minister Benjamin Netanyahu for halting strikes against Iran after a call with President Trump, saying that he was letting the United States make Israel’s decisions.
Washington and Tehran would need to defend any potential deal as a win for their side. And each has a leader whose approach to talks is vexing mediators.
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