US stocks were lower again as higher oil prices and Treasury yields weighed on sentiment, with the Russell 2000 the laggard and the equal-weight S&P declined by around 1%. Nearly all sectors declined, with Industrials, Consumer Discretionary and Real Estate the underperformers, while Energy was the only industry to close higher amid a roughly USD 3/bbl rise in WTI as prices were buoyed by geopolitical escalation following the recent tit-for-tat strikes between the US and Iran, which helped Brent reclaim USD 100/bbl.USD was more-or-less flat, and saw choppy trade on Wednesday. Through the US morning, the Greenback saw losses, albeit on no clear headline catalyst, but soon reversed, and more, as the US Treasury Buyback announcement disappointed; the Treasury is to buy back a maximum of USD 6bln in 10yr-20yr Treasuries on Thursday, which was against guidance for at least USD 4bln, but some had expected the figure to be as high as USD 10bln. Elsewhere, Dollar-specific newsflow was sparse, while traders await PPI and CPI on Thursday and Friday, respectively.Looking ahead, highlights include Japanese Securities Flows, Australian MI Inflation Expectations, Supply from Japan.More Newsquawk in 2 steps:1. Subscribe to the free premarket movers reports2. Trial Newsquawk’s premium real-time audio news squawk box for 7 daysLOOKING AHEADHighlights include Japanese Securities Flows, Australian MI Inflation Expectations, Supply from Japan.Click for the Newsquawk Week Ahead.IRAN CONFLICTUS President Trump said he thinks war with Iran will end immediately after the election and doing much more than a nuclear deal, while he stated there is going to be a lot more on the table that was not on the table 3 months ago. Trump stated that he is not looking for negotiations to restart; it could happen, but it is not something they are looking at, and they are not seeking a deal.US Pentagon is said to be considering scenarios involving US Marine amphibious landings on strategic uninhabited Iranian islands near the Strait of Hormuz to establish observation and logistical bases and secure commercial shipping, according to Eram News sources.There are signs the US is working to devise a means of striking Iran's nuclear sites, according to CNN.An explosion was heard from the sea south of Jask, and it was reported that an oil tanker was being targeted in the Strait of Hormuz. However, a US official told NewsNation that there were no attacks being carried out by US forces in Iran near the Strait of Hormuz.Iran launched a drone at a tanker near Iraq and at a tanker near the Emirates, according to i24's Stein.Iran’s Foreign Ministry condemned US attacks on Iranian vessels and said Tehran’s strikes on US military bases and interception of American vessels constitute legitimate self-defence under international law.Iranian Parliament Speaker Ghalibaf reiterated that US energy assets in the region will be the next target, according to Tasnim.Iran official said they are ready for a more intense war with the US if required and will escalate strikes in response to US attacks.IRGC official warned that further US aggression against Iran could trigger more unprecedented Iranian responses, according to IRNA.