The US said it carried out strikes on Iranian military targets after an attack on three American destroyers in the strait of Hormuz
Oil is back over $100 a barrel as the US-Iran ceasefire came under strain, undermining hopes of an early reopening of the strait of Hormuz.
The jump in oil price came two days after hopes of a peace deal breakthrough pushed it down.
Questions around the ceasefire have already had a market impact in Asia overnight, where all the major equity indices have lost ground. That includes the Nikkei (-0.69%), the KOSPI (-0.73%), Hang Seng (-1.17%), CSI 300 (-0.90%) and the Shanghai Comp (-0.43%).
Moreover, European equity futures are down, with those on the FTSE 100 (-0.70%) and the DAX (-0.87%) both lower, although US futures have picked up a bit after yesterday’s losses, with S&P 500 futures up +0.21%.
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Source link : https://www.theguardian.com/world/live/2026/may/08/iran-us-israel-donald-trump-lebanon-ceasefire-oil-strait-hormuz-missiles-latest-news-updates
Author : Taz Ali
Publish date : 2026-05-08 08:10:00
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