US-Iran: Ceasefire tested as Trump threatens new strikes

U.S. President Donald Trump has declared a "memorandum of understanding" for a ceasefire with Iran "over," leaving open the possibility of further American strikes following Iranian attacks. As hostilities reignited, causing oil prices to surge, Iran stated it targeted U.S. military facilities in Bahrain and Kuwait. This came hours after the U.S. launched strikes on Iranian targets in retaliation for attacks on oil tankers in the Strait of Hormuz.

These developments have further undermined the fragile ceasefire and hopes that the "memorandum of understanding" signed on June 17 could lead to a permanent peace agreement. The conflict had begun with U.S.-Israeli strikes on February 28. "If we make a deal with Iran, I'm not sure it will hold... because I consider them very dishonorable people," Trump stated, casting doubt on Tehran's stance.

The U.S. president did not clarify whether Washington intends to return to full-scale war, and it remains unclear if negotiations will continue. Before a NATO summit, Trump told reporters that, in his opinion, the memorandum of understanding was "over," calling Iranians "scum" and "sick." He added that he would allow his negotiators to continue talks "if they want to," though he considered it unlikely.

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If we make a deal with Iran, I'm not sure it will hold… because I consider them very dishonorable people.

A source familiar with the talks in Ankara reported that Trump did not repeat these statements to NATO leaders. However, before meeting with Ukrainian President Volodymyr Zelenskyy, he warned of new strikes, saying, "We will hit them hard tonight." The latest attacks intensify concerns about security in the Strait of Hormuz. According to maritime tracking firms, at least four oil tankers were forced to change course to avoid passing through the strait.

Brent crude oil futures for September delivery surpassed $80 per barrel, an increase of approximately 8%. U.S. West Texas Intermediate (WTI) crude for August delivery was at $75.83, up 7.65%. U.S. Treasury Secretary Scott Bessent stated that U.S. oil should sell for a higher price internationally. Meanwhile, Wall Street indices were declining: the Dow Jones at 52,410.73 points (-0.97%) and the S&P 500 at 7,469.53 points (-0.46%). Iran insists it will impose transit fees on the Strait of Hormuz, threatening ships that do not follow its approved route. The U.S. responded with strikes on over 80 targets, while Iranian media reported explosions near the Strait and in the city of Bushehr. In retaliation, the Revolutionary Guards announced they had struck...

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We will hit them hard tonight.