The U.S. government approved approximately $8.6 billion in arms sales to four Middle Eastern nations, waiving congressional review — a move that comes amid escalating US-Iran tensions in the Strait of Hormuz.
The Dow Jones Industrial Average closed down 557 points at 48,941, while Brent crude surged past $114 per barrel as the US-Iran conflict in the Strait of Hormuz rattled global markets.
US forces sink seven Iranian fast boats in the Strait of Hormuz as Iran launches attacks on UAE oil facilities and shipping in the strait, marking a sharp escalation in regional tensions
Oil prices pulled back Tuesday after Brent crude surged nearly 6% the previous day, as traders weigh escalating Iran tensions against ceasefire prospects.
Iran launched its first attack on UAE targets since the early April ceasefire, firing four cruise missiles at Fujairah and hitting an oil facility with a drone, as the U.S. initiated Project Freedom to escort ships through the strait.
Trump announces US Navy will begin escort operations Monday for foreign vessels trapped in the Strait of Hormuz, warning Iran that any disruption will be met with force
Trump announces US military will begin escorting vessels trapped in the Persian Gulf through the Strait of Hormuz, as Iran says it has received a US response to its 14-point peace proposal.
Iran’s foreign ministry confirms receipt of a US response to its 14-point peace proposal, delivered via Pakistan. Trump tells Israeli media the proposal is unacceptable, while hinting military strikes could resume.
Iran has submitted a 14-point peace proposal to the United States via Pakistan in response to a previous nine-point U.S. proposal. Trump says he is reviewing the new plan but remains skeptical, stating Iran has ’not yet paid a big enough price.'
Iran submits a 14-point peace proposal to the US through Pakistan, seeking to resolve all issues within 30 days, but mutual distrust remains the biggest obstacle.