Following the latest escalation in tensions, US President Donald Trump said that the ceasefire deal with Iran is over and he also said that further engagement with Tehran is a waste of time.
US Central Command said that in response, it struck Iranian missile and drone storage sites along with coastal radar positions. It described the strikes as retaliation for unwarranted aggression against commercial shipping by Iranian forces.
A temporary 60-day US waiver has given Iran a limited chance to sell oil again, while traders and refiners watch for price moves and fresh supply shifts in the global market.