Thursday 11 June 2026 6:26 am
| Updated:
Thursday 11 June 2026 6:28 am
Trump vowed to hit Iran 'very hard.' (AP Photo/Julia Demaree Nikhinson)
Good morning and welcome back to the City AM liveblog.Oil prices are pulling higher as the tit-for-tat strikes between the US and Iran continue leaving investors sceptical of any peace deal in the Middle East.The US carried out a “self-defence” action on Iranian military surveillance capabilities, communications systems, and air defence sites last night, following a back-and-forth strikes between the two nations.Trump said he spoke “directly” with officials in Tehran, who asked him to stop bombing that began at 10:30pm last night. He added “shortly” it would but threatened it could resume.The tensions have sent Brent crude – the international benchmark for oil prices – back over $94 per barrel.Speaking in the Oval Office Trump ahead of the strikes said: “We are going to be attacking them, attacking them very hard.”“We hit them hard yesterday, and we’re going to hit them again hard today – in case you miss it, in case you don’t turn on your television set.”It followed the President taking to Truth Social on Wednesday to warn: “[Iran has] taken too long to negotiate a deal that would have been great for them, now they will have to pay the price!!!”The brewing animosity is posing yet another threat to markets as investor sentiment remains vulnerable to numerous global factors. Chip sell-offs on Wall Street and in Asia have led markets lower this week. Whilst the UK has managed to curb the worst of this due to its little exposure to tech stocks, the City has still been caught up in general sell-offs that have left it down near one per cent for the week.We’ll be bringing you the latest market reaction and more.Here’s a few of our top headlines this morning
