Trump threatens new Iran strikes as ceasefire deal collapses
Why it matters: Oil prices jumped and at least four tankers turned back from the Strait of Hormuz after the latest fighting.
President Donald Trump threatened fresh US strikes on Iran on July 8 after declaring an initial ceasefire understanding with Tehran dead, deepening uncertainty over whether the two sides are headed back toward wider war. Speaking on the sidelines of a NATO summit in Ankara before meeting Ukrainian President Volodymyr Zelensky, Trump said the United States would likely strike again that night after attacks a day earlier. He also repeated that Iran must never obtain a nuclear weapon. Iran said it had targeted US military sites in Bahrain and Kuwait after US strikes tied to attacks on tankers in the Strait of Hormuz. The renewed hostilities rattled energy markets and shipping, with data showing at least four oil and gas tankers reversing course rather than crossing the waterway.