US-Iran
Trump threatens to bomb Iranian bridge or power plant if ship fired upon in Strait of Hormuz
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U.S. President Donald Trump warned Wednesday that the United States will bomb an Iranian bridge or power plant if the Islamic Republic fires at a vessel in the Strait of Hormuz.
Oil prices have increased following renewed US-Iran hostilities involving naval blockades and retaliatory strikes. Brent and West Texas Intermediate crude reached their highest levels in weeks amid supply disruptions.
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The US Navy attacked the Palau-flagged MT Marivex tanker with 24 Indian crew members off the coast of Oman on Monday, and all were later rescued by the Oman Air Force.
Three weeks after Iran's Strait of Hormuz blockade began, oil prices surged another 8% above $100 a barrel as US-Iran peace talks collapsed and the US Navy imposed its own blockade to curb Iranian exports. The escalation heightens global supply fears, with President Trump warning of sustained high fuel prices through November's midterm elections.
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Indian benchmark indices Sensex and Nifty closed nearly 6% higher for the week, snapping a six-week losing streak after a ceasefire between the US and Iran. Both indices rose 1.2% on Friday. Investors adopted a risk-on approach amid reduced volatility.
Iran's top military commander, Major General Abdolrahim Mousavi, has warned US President Donald Trump that a war with Tehran would serve as a valuable lesson for him. The statement responds to Trump's comments on potential regime change in Iran and the deployment of US aircraft carriers in the region. Tensions are rising amid ongoing nuclear diplomacy talks.