US and Iran trade strikes overnight amid peace talks
Hours after President Donald Trump dismissed a report regarding a deal to restore traffic in the Strait of Hormuz, the US and Iran exchanged fresh strikes early on Thursday.
Despite an ongoing ceasefire as the countries hold talks to end the conflict, the US carried out new strikes inside Iran, The Guardian reported, prompting a retaliatory attack from Iran on a US airbase in Kuwait.
Escalating tensions have seen oil prices rise on fears of a Hormuz deal faltering, with Brent Crude rising more than 4% at one point, climbing over $98 a barrel before retreating back towards $96.50. The US dollar also edged slightly higher Thursday.
The potential of fresh hostilities has seen emerging market stocks in Asia drop from record highs and European shares dip. US risk assets, including SPX futures, have fallen slightly, but remain largely unbothered at the time of writing.
Escalating tensions have seen oil prices rise on fears of a Hormuz deal faltering, with Brent Crude rising more than 4% at one point, climbing over $98 a barrel before retreating back towards $96.50. The US dollar also edged slightly higher Thursday.
The potential of fresh hostilities has seen emerging market stocks in Asia drop from record highs and European shares dip. US risk assets, including SPX futures, have fallen slightly, but remain largely unbothered at the time of writing.
