U.S. Launches Fresh Iran Strikes as $96 Brent Rises on Ceasefire and Hormuz Tensions
Updated
Updated · CNBC · May 28
U.S. Launches Fresh Iran Strikes as $96 Brent Rises on Ceasefire and Hormuz Tensions
26 articles · Updated · CNBC · May 28
U.S. forces carried out fresh strikes in Iran that a U.S. official described as measured, purely defensive actions meant to preserve the fragile ceasefire.
Those strikes came as Washington sent mixed signals: Marco Rubio said nuclear talks had made some progress, while Donald Trump said he would not let Iran control the Strait of Hormuz in any deal.
A Reuters report said Tehran would restore Hormuz commercial traffic to prewar levels within one month of an agreement, but the White House called any memorandum-of-understanding report a complete fabrication.
Oil climbed on the uncertainty, with July Brent up 2.03% to $96.20 and WTI rising 1.66% to $90.15, while Asia-Pacific equities opened lower across Japan, South Korea, Australia, China and Hong Kong.
The market pullback contrasted with Wall Street's latest records on Wednesday, when the S&P 500 and Dow both closed at all-time highs despite the unresolved U.S.-Iran standoff.
As U.S. strikes hit Iran amid peace talks, is a diplomatic solution possible, or is a larger conflict now inevitable?
Can military force eliminate Iran's buried nuclear stockpile, or would an attack simply guarantee a future war?
With a key global oil artery blocked, how close is the world to a major food and energy crisis?