Overview
- Oil prices reversed sharply after the CBS interview, with Brent dropping to about $89 and U.S. stocks finishing higher following an intraday surge above $100 to as high as $119.
- U.S. Central Command said forces have hit more than 5,000 targets in Iran since February 28 and damaged or destroyed about 50 Iranian ships, while President Trump offered no timeline for halting strikes.
- Iran’s Revolutionary Guards declared that Iran will decide when the war ends and, according to Tasnim, warned they will prevent oil exports to U.S. and Israeli partners for the duration of the conflict.
- Regional spillover persisted as Israel reported new strikes on Tehran, Isfahan and near Shiraz, and Turkey intercepted another Iranian rocket before President Masoud Pezeshkian spoke with Recep Tayyip Erdogan.
- G7 capitals discussed coordinated releases from strategic oil reserves and the U.K. deployed Typhoon jets to help the UAE counter drones, as major shipper MSC curtailed some Gulf exports and tanker traffic through Hormuz remained disrupted.