In the early hours of Wednesday, the United States renewed attacks on Iran following Iranian strikes on commercial vessels in the Strait of Hormuz. Explosions were reported across multiple southern Iranian regions, including Sirik, Qeshm Island, Bandar Abbas, and Kharg Island. Iran vowed a “crushing response,” launching drones and missiles at U.S. positions in Bahrain and Kuwait.

President Donald Trump confirmed the ceasefire was “over,” calling Iranian leaders “scum” and declaring negotiations pointless. His remarks at the NATO summit in Ankara intensified diplomatic shockwaves across Europe and the Middle East.

💥 Military Escalation

U.S. Central Command reported precision strikes on more than 80 Iranian targets. Iran’s military responded by declaring all U.S. bases in the region “legitimate targets,” signaling a dangerous new phase in the conflict.

The Treasury Department simultaneously revoked a sanctions waiver that had allowed Iran to sell oil on the global market — a move that further inflamed tensions and undermined the fragile interim truce.

📉 Markets React: Oil Soars, Stocks Slide

Oil prices spiked more than 5% following Trump’s declaration, with Brent crude jumping to $78.09 per barrel and West Texas Intermediate rising to $74.23.

The shock rippled through global markets:

• Asian stock markets shed more than $700 billion in value.
• The S&P 500, Dow, and Nasdaq all dipped as investors fled risk amid fears of supply disruptions in the oil-rich region.

Tech, travel, and energy sectors saw immediate volatility, with analysts warning that prolonged conflict could reshape global economic forecasts.