US conducts new strikes in Iran; Trump declares ceasefire 'over' amid regional escalation

The United States has launched a new series of military strikes against Iran, following President Donald Trump's declaration that a prior ceasefire is now "over." This escalation comes after recent Iranian attacks on commercial shipping in the vital Strait of Hormuz, prompting a forceful response from the U.S. aimed at degrading Iran's capacity to threaten maritime navigation.

President Trump, speaking at a NATO summit, expressed his view that negotiations with Iran were a "waste of time" and warned of further strikes against Iranian targets. Reports from Iranian state media confirm explosions in several southern port cities, including Bandar Abbas, in the wake of the U.S. military actions.

These renewed tensions have had immediate economic repercussions, with global oil prices surging significantly, some international benchmarks jumping by over five percent. The breakdown of the fragile truce, which aimed to halt hostilities and facilitate talks, signals a sharp rise in regional instability.