US President Donald Trump said on Thursday it would hit Iran again tonight and threatened to seize the country’s oil infrastructure including its main export terminal Kharg Island “in the not too distant future, triggerring a strong response from Iran which threatened to attack Elon Musk’s companies in the Middle East.
The United States said it has completed a series of retaliatory strikes against Iranian assets following the downing of a US Army Apache helicopter, while Iran responded by launching missiles and drones toward American-linked targets in the Gulf, raising fresh concerns over regional stability even as diplomatic efforts to end the conflict remain on track.
President Donald Trump on Wednesday said the US would strike Iran again if no peace deal is secured, threatening further escalation following one of the most significant exchanges of hostilities in two months. Trump has repeatedly said a deal is close, though there has been no sign of a breakthrough.
Brent oil looks set to move above $100 and potentially stay there for a while, said an industry expert citing reports that Iran has halted negotiations with the US and threatened to close the Strait of Hormuz. That scenario would change the game for investors.
Oil prices climbed more than 2% on Monday as investors reassessed expectations for a breakthrough in US-Iran negotiations, with renewed regional tensions highlighting the fragility of efforts to secure a broader peace agreement and restore stability to Middle East energy supplies.
The UAE's air defences are currently dealing with missile and drone attacks originating from Iran, the UAE Ministry of Defense said in an X post.
US forces attacked Iranian military facilities after Iran launched “unprovoked” missile, drone and small boat attacks against American warships transiting the Strait of Hormuz, US Central Command (CENTCOM) said.
Iran is expected to respond on Thursday to a US proposal aimed at ending the conflict and establishing a framework for broader nuclear negotiations, according to media reports, as diplomatic efforts intensified amid continuing tensions in the Gulf.
Several ships were hit by suspected Iranian missiles and drones in the Strait of Hormuz on Monday and a UAE oil complex was set on fire. This follows the launch of Project Freedom by US military to end the blockade of the shipping route.
Global LNG exports fell to about 33 million tonnes in April 2026, the lowest in nearly two years, as Middle East tanker disruptions linked to the US-Israeli war with Iran impacted shipping flows.
