Trump warns of more strikes against Iran Wednesday as ceasefire frays

President Donald Trump warned Wednesday that the United States would "probably" strike Iran again Wednesday night, escalating a rapidly deteriorating conflict after declaring that a memorandum of understanding intended to end months of fighting between the two countries was "over."apnews+1

Ceasefire Collapses at NATO Summit

Speaking at the NATO summit in Ankara, Turkey, Trump was asked about the status of the interim peace agreement with Iran. "For me, I think it's over," he said, referring to Iran's leadership as "sick" and calling negotiations "a waste of time dealing with them." Trump said peace talks could continue but signaled he had no intention of pursuing them, telling reporters the U.S. would likely launch another round of strikes on Wednesday night.cnn+3

The remarks came a day after U.S. Central Command said it struck more than 80 Iranian military targets, including defense systems, command networks, and anti-ship missile capabilities, as well as more than 60 small boats belonging to Iran's Islamic Revolutionary Guard Corps in and around the Strait of Hormuz. The Pentagon said the strikes were in direct response to Iranian attacks on three commercial vessels transiting the strait on Tuesday.nytimes+3

Tit-for-Tat Escalation

Iran's Revolutionary Guards responded Wednesday by claiming strikes on eight U.S. military sites across Bahrain and Kuwait. Bahrain sounded missile alert sirens a third time Wednesday morning as the attacks continued. The exchange marked the most intense period of hostilities since Washington and Tehran signed the memorandum of understanding last month to bring their nearly four-month war to a close.reuters+3

The U.S. Treasury also revoked a general license issued June 22 that had allowed Iran to sell crude oil and petrochemicals on international markets through August 21, giving Tehran until July 17 to wind down transactions. A U.S. official said "Iran's actions in the Strait were wholly unacceptable to the United States and will be met with consequences."cbsnews+2

Markets Rattle as Strait of Hormuz Fears Return

Oil prices surged Wednesday as the collapse of the ceasefire raised fears over the security of the Strait of Hormuz, through which roughly 20 percent of the world's oil passes. Brent crude jumped more than 5 percent, according to CBS News, while U.S. benchmark West Texas Intermediate also rose sharply. The S&P 500 slid as investors reassessed geopolitical risk.thestreet+3

The escalation surprised NATO leaders gathered in Ankara, where Trump had ordered the strikes late Tuesday while attending the summit. Whether Wednesday night brings a new round of strikes — or a last-minute reversal — remains uncertain, but for now, the fragile path toward peace between Washington and Tehran appears broken.cbsnews