Iran, US-Israel war highlights: Trump warns US military will ‘hit Iran hard today’; Brent jumps nearly 3%

The cost of shipping a container from Asia to the United States has doubled since the start of the Iran war, driven by soaring fuel prices and stronger demand from importers seeking to avoid further increases. Peter Sand, chief analyst at freight pricing platform Xeneta, told Reuters that rising freight rates are a clearer sign of energy crisis risks than oil markets. “The risk is priced into the spiraling freight rates far more clearly,” he said.

U.S. Central Command (CENTCOM) said American forces disabled the Palau-flagged tanker M/T Settebello after it allegedly attempted to transport oil from Iran. According to CENTCOM, a U.S. aircraft fired precision munitions into the vessel’s engine room after the crew repeatedly failed to comply with instructions from American forces. The military said the tanker was rendered inoperable as part of enforcement actions linked to the Trump administration’s blockade of Iranian ports. CENTCOM added that since mid-April, U.S. forces have disabled eight vessels, redirected 134 others and allowed 42 ships carrying humanitarian aid to transit.

The Trump administration has imposed a fresh round of Iran-related sanctions targeting six individuals and four entities, including some linked to China, according to a notice posted on the US Treasury Department’s website.

Iranian President Masoud Pezeshkian dismissed US President Donald Trump’s threats to target Iranian infrastructure, calling them “a sign of desperation.” In a statement, Pezeshkian said critical infrastructure, including transportation, electricity and water networks, represents the “lifeblood of the people” and should not be threatened. He argued such warnings reflect weakness rather than strength in the face of Iran’s resolve. “Iran, relying on the knowledge and capabilities of its specialists, national unity, and solidarity, will stand firm against any pressure or threat,” he said.

The United States has imposed a new round of Iran-related sanctions, according to the U.S. Treasury Department. The measures target entities, individuals and vessels linked to Iranian commercial and financial networks as Washington continues its pressure campaign against Tehran.

India has summoned a senior US diplomat in Delhi after a strike on a tanker off the coast of Oman left three Indian seafarers missing, reported two Indian sources familiar with the matter. The sources told Reuters that India lodged a “strong protest” with US Deputy Chief of Mission Jason Meeks over the incident.

US consumer inflation rose to 4.2% in May, its highest level since April 2023, driven largely by a sharp increase in energy costs linked to the conflict with Iran. Data from the Bureau of Labor Statistics showed headline inflation accelerated for a third straight month, with energy prices up 23.5% year-on-year and gasoline prices soaring 40.5%.

Oil prices extended gains after U.S. President Donald Trump said Washington would “hit Iran hard again today,” raising fears of further disruption to energy supplies in the Middle East. Brent crude futures climbed about 2.7%, while U.S. West Texas Intermediate (WTI) rose 3.5% as traders priced in escalating geopolitical risks.

US President Donald Trump urged Iran to accept a nuclear agreement even as he warned that Washington would continue military action against Tehran. Speaking to reporters, Trump said the proposed deal would prevent Iran from “ever having a nuclear weapon” and described it as “a good deal.” He added, “We hit them hard yesterday and we’re going to hit them again hard today,” while insisting the U.S. still wants “a deal that works.” Trump said negotiations had come close to a breakthrough but accused Iran of delaying and “playing us for suckers.”

U.S. President Donald Trump said the American military would “hit Iran hard today,” escalating his rhetoric amid ongoing tensions with Tehran. “We are going to hit Iran hard today in case you don’t turn on your TV,” Trump told reporters, signaling the possibility of further military action. Following the remarks, U.S. stocks extended their decline, with major indexes falling to fresh intraday lows as investors reacted to the prospect of renewed escalation in the conflict.

Three Indian seafarers remain missing after an attack on the tanker Settebello off the coast of Oman, India’s foreign ministry said. The ministry added that 21 other Indian mariners were successfully rescued following the incident. “We condemn the attack on the commercial vessel Settebello off the coast of Oman, earlier today,” the ministry said in a statement. Indian authorities said they are closely monitoring the situation and coordinating efforts related to the missing crew members.

Saudi Arabia’s new airline Riyadh Air launched its first London flight on its new Boeing fleet on Wednesday, with CEO Tony Douglas playing down the impact of the Iran conflict and saying the startup could benefit from travellers avoiding other parts of the Gulf.

The S&P 500 erased earlier losses and moved into positive territory on Friday, despite data showing U.S. inflation rose to its highest level in three years. The turnaround suggests investors looked past the inflation report, with gains in several sectors helping lift the broader market.

US President Donald Trump said an Iranian drone struck a US Apache helicopter operating at low altitude in the Strait of Hormuz, becoming lodged between the aircraft’s two pilots before catching fire. According to Trump, the pilots attempted to land but ultimately ditched the helicopter in the sea and were rescued by an unmanned sea drone. He described the operation as the first rescue by an unmanned sea drone in US military history. Trump said the United States responded to the incident with 20 retaliatory strikes against Iranian targets.

Israeli Army Radio, citing security officials, reported that part of an Iranian missile struck the Ramat David airbase on Sunday evening. According to the report, the Israeli Air Force is still examining what hit the base, with initial assessments suggesting it may have been a fragment from an interceptor missile. The impact reportedly occurred in a non-operational area used to store forklifts and technical equipment. Officials said there were no casualties and no damage to equipment.

At least 3,696 people have been killed in Israeli attacks across Lebanon since March 2, according to the latest figures from Lebanon’s Ministry of Health. The ministry said another 11,413 people have been wounded during the same period. The conflict has also taken a heavy toll on the healthcare system, with three hospitals forced to shut down and 17 others sustaining damage.

A Qatari delegation has arrived in the Iranian capital to discuss and exchange views on bilateral relations and regional developments, Iranian local media ISNA is reporting.

US President Donald Trump said he is “close” to ordering new military strikes targeting Iran’s power plants and bridges if Tehran refuses to sign an agreement. Speaking to Fox News, Trump suggested additional action remains under consideration as tensions with Iran persist despite ongoing diplomatic efforts.

Israeli Prime Minister Benjamin Netanyahu lashed out at Turkish President Recep Tayyip Erdogan, calling him an “antisemitic dictator” who “commits genocide against the Kurds,” supports Hamas, suppresses dissent and imprisons political opponents. Netanyahu said Erdogan was “the last person who can preach morality to Israel,” rejecting Turkish criticism of Israeli actions in the region. He added that Israel and the Israeli military would continue acting forcefully against Iran and its regional allies.

Israeli attacks on the southern Lebanese city of Tyre and nearby areas have killed at least 13 people and wounded 15 others, according to Lebanon’s National News Agency. The deadliest strike hit the town of Tirdaba, where nine people were killed and seven wounded. In Deir Qanoun, three people were killed and three others injured, while another strike in Tyre killed one person and wounded five. Rescue teams were continuing efforts to clear rubble and search affected areas.

Iranian President Masoud Pezeshkian said the country must move beyond the current “no war, no peace” situation in the region while safeguarding its national interests. Speaking at an event in Tehran, he said war is “certainly not in the country’s interest,” but stressed that Iran would not surrender if its “dignity, land, and territory” were threatened. Pezeshkian acknowledged that managing the country during war and crises is “difficult” and called for national unity and cooperation. “We must move forward with dignity in a way that saves the future of our country from crises and storms,” he said.

US President Donald Trump claimed the American blockade on Iran is the “most successful Blockade in the history of Naval Warfare,” accusing the “fake news media” of failing to report its effectiveness. “NOTHING GETS THROUGH unless we want it to. IT IS A STEEL WALL!” Trump wrote on Truth Social, adding that Iran is “quickly becoming a FAILED NATION.” Separately, Trump told Fox News he was close to ordering new strikes on Iranian power plants and bridges if Tehran refuses to sign an agreement. T

The Health Ministry in Gaza says the number of people killed in Israel’s genocidal war on the Palestinian territory has risen to 72,991, adding that another 173,212 people have been wounded since October 7, 2023, reported Al Jazeera.

Iranian Foreign Minister Abbas Araghchi has urged members of the International Atomic Energy Agency’s Board of Governors not to allow the UN nuclear watchdog to be used as a “U.S. political instrument.” In a letter to foreign ministers of countries represented on the board, Araghchi criticised a U.S.-drafted UN resolution targeting Iran’s nuclear programme. He described the measure as “politically motivated” and “made in bad faith,” accusing Washington of using international institutions to increase pressure on Tehran.

US President Donald Trump again claimed that Iran’s military is a “complete and total mess,” saying much of its navy and air force “doesn’t even exist anymore.” In a post on Truth Social, Trump said Iran had been “completely defeated” and described the country as “all talk and no action.” He added that Iran had taken too long to negotiate a deal that “would have been great for them” and warned that Tehran would now “have to pay the price.” Trump did not elaborate on what consequences he was referring to.

US President Donald Trump claimed Iran’s military has been “completely defeated,” arguing that much of the country’s naval and air capabilities no longer exist. In a social media post, Trump said Iran was “all talk and no action” and described it as “the Bully of the Middle East,” adding that it is now “DEAD.” He also criticised Tehran’s approach to diplomacy, saying Iranian leaders had taken too long to negotiate an agreement that “would have been great for them.” “Now they will have to pay the price,” Trump said, escalating his rhetoric amid ongoing tensions with Iran.

Israeli Prime Minister Benjamin Netanyahu will be a candidate in the country’s next election, his ruling Likud Party said, after comments by US President Donald Trump appeared to raise questions about his political future. The statement seeks to dispel speculation over whether Netanyahu would seek another term amid ongoing political and security challenges. Israel has not yet formally announced an election date, but a vote must be held by October.

Inflows into India’s equity mutual funds fell to their lowest level in a year in May as market volatility linked to the Iran conflict dampened investor sentiment. Data from the Association of Mutual Funds in India showed equity fund inflows dropped 40% month-on-month to 229.08 billion rupees ($2.4 billion). Small-cap, mid-cap and large-cap funds all saw sharp declines, with inflows falling 28.2%, 33.2% and 36.9%, respectively. Meanwhile, gold ETFs recorded record outflows as investors booked profits after bullion prices surged to all-time highs.

Two crew members are missing after a fire broke out aboard a tanker about 37 km (20 nautical miles) northeast of Oman’s Sohar, according to the United Kingdom Maritime Trade Operations (UKMTO) agency. The fire reportedly started in the vessel’s engine room, while UKMTO also reported one casualty without providing further details.

Iran said diplomacy “does not happen in a vacuum” and indicated it will review the future of nuclear negotiations with the United States in light of the latest attacks, according to state news agency IRNA.