Overview
- President Trump, in a Wednesday night address, said the U.S. will hit Iran "extremely hard" for two to three weeks and warned he could target power and oil sites.
- Oil jumped about 5% and Asian stocks fell after the speech, with Brent near $106 per barrel and U.S. gasoline averaging above $4 a gallon.
- Israel reported missiles launched from Iran hours after the address, and its air defenses moved to intercept the threats.
- Trump tied any ceasefire talk to reopening the Strait of Hormuz, which Iran has largely shut, and Tehran denied requesting a truce; the strait carries about one‑fifth of seaborne oil.
- Tensions with partners persisted as the UK gathered dozens of countries on Thursday to discuss how to restore safe passage through the waterway without a broader deal.