Trump threatens military action after Iran rejects US nuclear demands

27 articles · Updated · Fortune · May 10

Energy Secretary Chris Wright said Washington could resume efforts within days to reopen the Strait of Hormuz after pausing Project Freedom at Iran's request.
Iran reportedly offered a gradual reopening tied to lifting the US naval blockade, but refused to dismantle nuclear facilities, halt enrichment for 20 years, and sought frozen funds released.
Markets reflected the tension: Dow futures fell about 200 points while US and Brent crude rose 2.7%, as analysts warned prolonged disruption could drive global oil stockpiles to critically low levels.

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As conflict paralyzes global shipping, is the world economy spiraling toward a major recession?