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The US and Iran reignite tensions, highlighting the fragility of the ceasefire agreement
BlockBeats news, May 26 — The U.S. Central Command stated that U.S. and Israeli fighter jets attacked several Iranian ships in the Strait of Hormuz. Hours earlier, Trump had said that negotiations with Tehran on a temporary agreement were making progress. The renewed fighting underscores the fragility of the US-Iran ceasefire agreement.
During Tuesday’s Asian morning trading session, the S&P 500 futures declined following the latest developments, West Texas Intermediate crude oil prices rose slightly, and gold dipped modestly before stabilizing and fluctuating sideways. Trump is currently facing domestic pressure from hardliners in the US, such as Republican Senator Graham, who believe that the emerging agreement concedes too much to Tehran.