Trump has launched 'Project Freedom', sending 15,000 US personnel and 100+ aircraft to escort stranded vessels through the Strait of Hormuz, as Iran's 14-point peace plan is rejected and tensions ratchet up again.
Trump has rejected Iran's latest peace offer, delivered through Pakistan, as nuclear enrichment remains the unbridgeable sticking point. With petrol prices climbing and military options on the table, the diplomatic stalemate is starting to bite.
Trump insists the US has 'already won' its war with Iran, yet he's back in CENTCOM briefings weighing fresh strikes, a Hormuz operation and a special forces uranium grab. The numbers tell a more complicated story.
Trump is being briefed on fresh military options against Iran, including a special forces raid on its uranium stockpile and seizing part of the Strait of Hormuz, even as a fragile ceasefire and war crime warnings hang over the conflict.
Brent crude has spiked nearly 7% to $126 a barrel, its highest since 2022, after reports that Trump is about to be briefed on fresh military options against Iran. Here's what it means for UK wallets.
Oil prices have surged from $72 to over $112 a barrel since the US-Iran conflict began, and Trump's market-moving social media posts appear to be losing their grip on increasingly sceptical traders.
UK petrol prices have broken through 150p per litre for the first time since May 2024, driven by the Middle East conflict. Diesel has surged even harder, up nearly 25% in under a month.
Israel claims to have killed Alireza Tangsiri, the IRGC navy commander behind the Strait of Hormuz blockade, in a pre-dawn strike on Bandar Abbas. Iran has not confirmed his death.
Oil prices crashed over 10% after Trump claimed productive peace talks with Iran were underway and ordered a five-day strike pause. Tehran flatly denied any negotiations, calling the claims psychological tactics and fake news.
Larry Fink's reported warning about $150 oil triggering a global recession sits alongside his surprisingly optimistic public stance. With Brent crude already above $119 and the Strait of Hormuz disrupted, the gap between concern and catastrophe is shrinking fast.
The Philippines has become the first country to formally declare a national energy emergency over the Iran conflict, signing Executive Order 110 as the Strait of Hormuz closure threatens a nation reliant on the Middle East for up to 98 per cent of its oil.
PM Keir Starmer warned MPs against assuming the Iran war will end quickly, stressing it is 'not our war' while the UK quietly ramps up its military posture in the region.