Trump says Iran interim deal is over

President Donald Trump said Wednesday that an interim deal aimed at ending the U.S.-Iran war is over, after officials said both sides exchanged new strikes across the Gulf. Reaction pending.

Officials said Tehran carried out fresh attacks on U.S. bases in Bahrain and Kuwait after U.S. forces struck Iranian targets. The U.S. action followed attacks on tankers in the Strait of Hormuz, the waterway linking Gulf energy exports to global markets.

Hormuz tanker attacks widen Gulf risk

The immediate risk is no longer limited to direct U.S.-Iran military exchanges. Strikes touching Bahrain and Kuwait bring the conflict closer to Gulf host nations that anchor U.S. military posture and sit near major oil and shipping routes.

For markets, the transmission channel is energy security rather than a single battlefield headline. If tanker traffic through Hormuz faces higher insurance costs, delays or rerouting pressure, oil prices and inflation expectations could respond before physical supply losses are confirmed.

For Washington and Tehran, the collapse of an interim off-ramp narrows the space for near-term de-escalation. The central uncertainty is whether the latest attacks remain calibrated signaling or become a cycle of retaliation involving more bases, ships and energy infrastructure.

The next test comes by July 9, when governments, ship operators and energy traders will be looking for evidence of further strikes, disrupted tanker movement or renewed diplomatic contact.