U.S. President Donald Trump maintained that the weeks‑long truce with Iran remains in force after Washington and Tehran clashed over a recent exchange of fire. Trump described U.S. strikes as a “love tap” while Tehran accused the U.S. of violating the April‑8 ceasefire with air attacks on Iranian vessels. The dispute reignited tensions in the Gulf.

The U.S. launched Project Freedom to shepherd merchant ships through the Strait of Hormuz, which Iran has effectively shut during the two‑month conflict. In retaliation, Iranian forces fired more than a dozen missiles and drones at the UAE, striking an oil facility in Fujairah. Trump halted the operation a day later to create room for talks.

Iran’s military blamed the U.S. for air strikes near Bandar Khamir, Sirik, and Qeshm Island, alleging cooperation with regional allies. In response, Iranian naval commandos seized the Ocean Koi oil tanker attempting to breach the blockade, a move highlighted by Tasnim news. The incident underscored the fragile status of maritime security in the Gulf.

European shares dipped as oil prices hovered near $100 a barrel. Brent crude rose 0.6% to $100.64, reflecting heightened risk premium. The Stoxx Europe 600 fell 0.8%, while Germany’s Dax slipped 0.9%. Investors weigh the impact of renewed hostilities on global supply chains and the prospects for a swift resolution of the Strait blockade.