Trump ends U.S.-Iran ceasefire after strikes hit 80 targets
Why it matters: Brent crude jumped 5.7% after the U.S. hit shipping-linked targets and revoked Iran's oil-sale waiver.
President Donald Trump said Wednesday that the U.S. ceasefire with Iran was over after a new round of hostilities and American strikes on more than 80 targets. Speaking at NATO's summit in Ankara alongside Secretary General Mark Rutte, Trump said further peace talks with Tehran would be a waste of time. U.S. Central Command said the strikes targeted air defenses, command networks, anti-ship missile capabilities and more than 60 Islamic Revolutionary Guard Corps small boats after three commercial vessels were attacked in the Strait of Hormuz on Tuesday. Iran's foreign ministry called the operation a gross violation of the memorandum reached last month, while Washington also withdrew a waiver that had allowed Iran to sell oil.