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US-Israel Strikes Devastate Iran's Nuclear Program, Oil Prices Drop

Financial Times Markets •
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Israeli Prime Minister Benjamin Netanyahu declared joint US-Israel strikes had crippled Iran's uranium enrichment and ballistic missile production capabilities, asserting the conflict would conclude faster than anticipated. Netanyahu dismissed notions of an open-ended campaign, stating his objectives were achievable. He revealed he had deferred further Israeli attacks on Iran's massive South Pars gasfield at US President Donald Trump's request, while confirming Israel was aiding US efforts to reopen the Strait of Hormuz, a critical oil transit route Iran had effectively closed. Brent crude retreated below $108 a barrel following Netanyahu's remarks, after surging past $119 earlier due to Iranian missile strikes on Gulf energy infrastructure.

US stocks pared losses, and Treasury yields fell from near 3.96% to 3.79% as markets reacted.