Israel Iran War

Iranian missiles and drones are targeting Israel and Gulf Arab states as Tehran keeps up its chokehold on the Strait of Hormuz, even as U.S. President Donald Trump said talks were ongoing with the Islamic Republic to end the war. A missile slammed into a street in central Tel Aviv on Tuesday but no one was seriously hurt. Iran denied talks with the U.S. were held. Israeli Prime Minister Benjamin Netanyahu said Israel will continue to strike Iran and Lebanon, even as the U.S. considers a ceasefire. The respite in oil prices was short lived, with the price of Brent crude, the international standard, back to $104 a barrel in morning trading.

Hopes rose that the Iran war could begin winding down as U.S. President Donald Trump claimed his government was holding productive talks with Tehran. Fighting showed no signs of slowing and Iran denied there were talks. Trump extended his deadline to reopen the Strait of Hormuz on Monday. He says the U.S. will hold off striking Iranian power plants for five more days to allow talks with a “respected” Iranian leader. Iranian officials say the American leader had backed down following its “firm warning.” Financial markets were relieved Monday as oil prices eased. Markets have had vicious swings since the war began.