Oil Prices
- PriorityIL08:48UTC05:48EST01:48
US, Iran Trade Fire in Hormuz as Trump Insists Ceasefire Holds (May 8, 0548 UTC, 0848 Israel) (Morning Edition)
US and Iranian forces exchanged fire in the Strait of Hormuz late Thursday, with the US striking Qeshm port and Bandar Abbas after Iran attacked US Navy destroyers. President Trump called the US strikes a 'love tap' and insisted the ceasefire remains in effect, while Iran accused the US of violating the truce. The UAE reported intercepting a separate missile and drone attack early Friday. In Lebanon, the IDF confirmed killing Hezbollah Radwan commander Ahmed Ali Balout, and Hezbollah launched rockets and mortars at Israeli troops. Gaza ceasefire talks remain stalled over Hamas disarmament.
- PriorityIL09:01UTC06:01EST02:01
Iran Strikes UAE, US Sinks Iranian Boats as Hormuz Ceasefire Collapses
Iran launched 15 missiles and 4 drones at the UAE on Monday, hitting a Fujairah oil facility and wounding three, in the first major attack since the April 8 ceasefire. The US sank six Iranian small boats and intercepted missiles and drones as it began escorting commercial ships through the Strait of Hormuz under 'Project Freedom.' Hezbollah fired mortars and anti-tank missiles at Israeli forces in southern Lebanon overnight, with no IDF injuries reported. Oil prices surged nearly 6% and global markets slid as the US-Iran truce teetered.
- PriorityIL20:37UTC17:37EST13:37
Iran Strikes UAE with Missiles and Drones as US Escorts Ships Through Hormuz
Iran launched cruise missiles and drones at the United Arab Emirates on Monday, striking a petroleum facility in Fujairah and triggering air defense alerts in Dubai, in a major ceasefire violation. The US said two American-flagged merchant vessels transited the Strait of Hormuz under Navy escort as part of 'Project Freedom,' while Iran claimed it fired warning shots at US destroyers and hit a warship with missiles, a claim CENTCOM denied. Israel elevated its military alertness to the maximum level and convened its expanded security cabinet for Wednesday.
- RoutineIL03:21UTC00:21EST20:21
Trump Urges Iran to 'Just Give Up' as Oil Surges, Flotilla Intercepted
President Trump told Iran to 'just give up' and vowed to maintain the naval blockade until a nuclear deal is reached, as Brent crude surged past $117 per barrel and the UAE confirmed its exit from OPEC effective May 1. The IDF intercepted a Gaza-bound flotilla in international waters near Crete, while Hezbollah continued loitering-glider attacks on Israeli armor in southern Lebanon and the IDF struck over 30 Hezbollah sites. In London, police declared the stabbing of two Jewish men a terrorist incident, with an Iran-linked group claiming responsibility.