Overview
- Trump, in a Wednesday prime-time address, said U.S. forces will intensify strikes for two to three weeks and claimed military objectives are near completion.
- Hours after the speech, Israel reported missiles fired from Iran as Tehran also struck regional targets and shipping, including an oil tanker off Qatar.
- Following the remarks, Brent crude climbed to about $106 per barrel and stock futures fell, erasing a brief rally tied to hopes for a ceasefire.
- The Strait of Hormuz remains largely shut, and the UK is convening about 35 countries Thursday to discuss reopening the vital waterway without launching a new escort mission.
- Iran denied asking for a ceasefire as global institutions warned of uneven economic damage, and shipping data pointed to a de facto IRGC-controlled corridor near Larak Island that leaves fuel costs elevated for households.