Global markets and oil prices lurched after the United States and Iran traded new strikes. The conflict threatened lives throughout the region and foreign residents of Gulf nations. A fragile ceasefire was reached and later extended, but fighting resumed. An interim deal was signed, but tensions remained high. The war and negotiations continued with uncertain outcomes.

Renewed hostilities between the US and Iran have also heightened safety and security concerns around the Strait of Hormuz.

Trump calls continued peace talks a “waste of time” as strikes resume.

The U.S.-Iran deal has devolved into fighting again, with potentially ugly implications for oil prices.

Uncertainty over the ceasefire means uncertainty over prices.