Iran-US Conflict Escalates as Trump Dumps Ceasefire
Iran and the US have exchanged fire after the US launched strikes on several places in Iran and reinstated sanctions on its oil sales. The move was in response to Iranian attacks on ships in the Strait of Hormuz, a strategic waterway through which a fifth of the world's traded oil and natural gas passed.
US President Donald Trump has cast doubt on the interim agreement to pause fighting, saying 'For me, I think it's over' when asked about the status of the ceasefire. He added that US representatives can continue negotiations but he believes they're wasting their time.
The crossfire raised fears that the war in Iran could reignite, and oil prices shot up after Trump's comments. A renewed conflict could engulf the wider Middle East and would likely again halt energy shipments through the strait that are crucial to the global economy.