US President Donald Trump has predicted a sharp decline in oil and gasoline prices once the United States achieves what he described as a victory in its ongoing conflict with Iran, saying petrol prices in the US could eventually fall below $2 a gallon.

In a post on Truth Social on September 7, Trump said oil prices would fall “precipitously” after the US wins the war with Iran. He first projected gasoline prices at around $3 a gallon before saying they could ultimately drop below $2. 

Trump also reiterated that Iran would not be allowed to acquire a nuclear weapon and said the developments would happen quickly.

Trump links fuel prices to Iran conflict

Trump's comments directly linked the current rise in energy prices to the conflict with Iran and the disruption surrounding key oil routes in the Middle East.

The prediction comes as global energy markets remain highly sensitive to developments around the Strait of Hormuz, a critical route for international oil shipments. Iran has recently threatened to establish a maritime exclusion zone in the Gulf, while shipping through the strategic waterway has declined amid the conflict. 

The continuing uncertainty has kept crude prices elevated, despite expectations that an eventual end to hostilities could ease some of the supply pressure.

US gasoline prices remain elevated

Trump's forecast comes at a time when US consumers are still facing comparatively high gasoline prices.

The national average was around $4.15 per gallon around Labor Day, according to data cited in recent reports, significantly above the level Trump is predicting for the period after the conflict. Diesel prices have also remained elevated. 

Energy Secretary Chris Wright has stopped short of guaranteeing a sustained decline in fuel prices, saying gasoline futures indicated prices were more likely to fall than rise. (Benzinga)

Crude oil prices remain near $100

The president's prediction also comes against a backdrop of rising crude prices.

Brent crude has moved close to $100 a barrel, with reports attributing the increase to concerns over supply disruptions and the continuing instability around the Strait of Hormuz. West Texas Intermediate has also traded above $90 a barrel.

The direction of oil prices will depend heavily on whether the conflict escalates further, how quickly shipping through the Gulf can normalise and whether additional supplies become available.

Iran warns against attacks on energy infrastructure

Trump's comments came as tensions between Washington and Tehran remained high.

Iranian officials have warned that attacks on Iranian energy infrastructure could trigger retaliation against US-linked oil and gas interests in the region. Iranian Parliament Speaker Mohammad Bagher Ghalibaf has warned that the country's energy facilities and regional US interests remain exposed to potential escalation. 

The warnings have added another layer of uncertainty for energy markets already dealing with disrupted shipping routes.

What could determine future fuel prices?

A sustained decline in US gasoline prices would depend on several factors, including the restoration of oil shipments, increased crude supply and a reduction in geopolitical risk.

A conclusion to the Iran conflict could remove some of the geopolitical premium currently reflected in oil prices. However, the extent and speed of any decline cannot be established from Trump's statement alone.

Analysts cited in recent market reports have offered varying projections, with some expecting significantly lower crude prices if the conflict ends and supply disruptions ease, while others warn that continued instability could push prices higher.

Trump also reiterates Iran nuclear warning

Alongside his prediction on fuel prices, Trump again said Iran would not obtain a nuclear weapon.

His remarks come as the US-Iran conflict continues with no clear end in sight. Iran has maintained its ability to threaten regional shipping and energy infrastructure, while Washington has continued military and economic pressure on Tehran. 

For consumers and financial markets, the immediate focus remains on developments in the Middle East and their impact on crude supply, shipping and fuel prices. Trump's projection of gasoline falling below $2 a gallon therefore remains a future political prediction rather than a confirmed price forecast.

Iran's Foreign Ministry spokesperson Esmail Baghaei has criticised Canada after Ottawa accused Tehran of pursuing “destabilising activities” in the Middle East, calling Canada's position a display of “strategic confusion” and an attempt to appease the United States.

Baghaei's remarks came after the Canadian government said Iran's actions, including threats to vessels transiting the Strait of Hormuz, its nuclear activities and support for regional proxy groups, were undermining international peace and security. Canada also said it would continue working with partners, including G7 countries, to maintain pressure on Tehran.

Baghaei accuses Canada of backing US pressure

In a post on X, Baghaei accused Canada of choosing to support what he described as US-led military action and sanctions instead of calling for de-escalation.

He described Ottawa's approach as a “display of strategic confusion and submission to intimidation”, arguing that Canada's policy would not protect the country from pressure by its larger neighbour, the United States. 

Baghaei's comments represent Tehran's response to Canada's latest criticism of Iran and come amid a sharp deterioration in relations between the two countries.

Canada defends pressure on Iran

Canada said it was coordinating with international partners to maintain pressure on Iran and backed efforts aimed at addressing disruptions to navigation in the Strait of Hormuz.

Ottawa has accused Tehran of threatening vessels attempting to use the strategic waterway and has linked Iran's conduct to broader concerns over regional security and its nuclear programme. 

The Canadian position has emerged as the wider US-Iran conflict continues to affect shipping and energy markets.

Strait of Hormuz remains at centre of dispute

The dispute comes as tensions around the Strait of Hormuz have intensified.

Iran has threatened to establish a new maritime exclusion zone in the Gulf and has said it plans to announce a new shipping corridor through the Strait. Iranian officials have warned that vessels entering restricted areas could face sanctions.

The waterway is a crucial route for global oil and liquefied natural gas shipments. Shipping activity has fallen sharply during the conflict, adding to concerns over energy supplies and international trade.

Iran warns against further escalation

Tehran's latest statements toward Canada come against the backdrop of renewed military tensions with Washington.

Iran has warned that US energy interests and infrastructure in the Gulf could be targeted if attacks on Iranian assets continue. The warnings followed renewed strikes and counter-strikes involving the two countries. 

On Tuesday, Reuters reported that Iran had again threatened the United States with what it described as economic warfare and said it had fired an advanced missile at US warships. Washington said its vessels had evaded missile attacks. 

Diplomatic tensions deepen

The exchange between Ottawa and Tehran adds another layer to the diplomatic tensions surrounding the Iran conflict.

Canada has continued to coordinate with allies on sanctions and other measures against Tehran, while Iranian officials have repeatedly criticised Western governments for supporting US pressure and military action.

Baghaei's latest comments indicate that Tehran is likely to continue challenging countries that back Washington's approach, particularly as the dispute over navigation through the Strait of Hormuz remains unresolved.

Global impact of Iran conflict

The widening diplomatic confrontation is unfolding alongside disruptions to one of the world's most important energy corridors.

Reuters reported that only seven commodity vessels transited the Strait of Hormuz on Monday, compared with eight the previous day, according to Kpler data. At the same time, traffic through the Bab el-Mandeb Strait increased. 

With military tensions continuing and diplomatic efforts showing limited progress, the dispute over Iran's regional activities is likely to remain a major issue for Canada, the United States and other Western allies.

For now, Baghaei's response underscores Tehran's rejection of Canada's accusations, while Ottawa continues to defend its position as part of a broader international effort to pressure Iran.

Iran has escalated its confrontation with the United States by announcing plans for a maritime exclusion zone in the Persian Gulf, while US Central Command (CENTCOM) said it has redirected 94 commercial vessels as Washington continues enforcing its blockade of Iranian ports.

The latest developments mark a further deterioration in maritime security around the Gulf and the strategically vital Strait of Hormuz, where disruptions to shipping have already raised concerns about global energy supplies. 

Iran announces new maritime exclusion zone

Iranian Supreme National Security Council Secretary Mohsen Rezaei announced plans for a new maritime exclusion zone, amid the continuing conflict with the United States.

Tehran has also warned that it could target US energy interests and infrastructure across the Gulf if Washington carries out further attacks on Iranian assets. Iranian officials have framed the measures as part of a broader response to the US military campaign and blockade.

The proposed exclusion zone raises concerns for commercial shipping because the Persian Gulf and Strait of Hormuz form one of the world's most important energy corridors.

CENTCOM redirects 94 commercial vessels

US Central Command said its forces have redirected 94 commercial vessels while enforcing the maritime blockade against Iran.

CENTCOM has previously said the blockade applies to vessels entering or leaving Iranian ports and coastal areas. The US military says it continues to facilitate maritime traffic that does not violate the blockade. 

The latest figure comes as Washington maintains pressure on Tehran's ability to export oil and conduct maritime trade.

CENTCOM has also taken direct action against Iranian-linked vessels. On September 5, the US military said it struck three Iranian crude oil carriers after Iran launched ballistic missiles toward two US Navy warships. 

Strait of Hormuz under growing pressure

The developments are particularly significant because of the Strait of Hormuz, through which a substantial share of global oil and gas shipments normally passes.

Shipping traffic through the waterway has already slowed. Reuters reported that only seven commodity vessels transited the strait on September 7, compared with eight the previous day, although the actual number may be higher because some ships could have switched off their tracking systems. 

Any sustained disruption could therefore have consequences well beyond the Middle East, particularly for crude oil prices, freight costs and energy-importing economies.

US and Iran adopt tougher positions

The latest confrontation follows months of escalating military and economic pressure between Washington and Tehran.

CENTCOM has described its operations as part of Operation Epic Fury, saying its forces are targeting elements of Iran's security apparatus and threats to US forces. 

Washington has also previously reported disabling or redirecting commercial vessels that it says violated the blockade. In July, CENTCOM announced that the blockade had resumed after an earlier phase in which more than 140 compliant vessels were redirected and nine non-compliant ships were disabled. (Central Command)

Iran, meanwhile, has threatened to expand the conflict beyond military targets by targeting American economic and energy interests in the region.

Energy markets remain vulnerable

The maritime confrontation has already contributed to renewed volatility in oil markets.

Brent crude remained below $100 a barrel despite severe supply disruptions, with alternative export routes and continued shipments through the Strait of Hormuz helping prevent an even sharper price surge. However, analysts have raised concerns that prolonged disruption could tighten global supplies further. (Reuters)

For countries heavily dependent on imported crude, including India, developments around the Strait of Hormuz remain particularly important. A prolonged disruption could affect shipping insurance, freight rates and energy costs in addition to crude prices.

What happens next

Iran's proposed exclusion zone and the US blockade now create the possibility of further confrontation involving commercial shipping and military forces operating in the Gulf.

The immediate question is whether Tehran will enforce the proposed zone and how Washington will respond if vessels are prevented from using established maritime routes.

For now, both sides have adopted increasingly assertive positions, while commercial shipping operators face a more uncertain operating environment across one of the world's most strategically important waterways.

The United States military has struck three Iranian crude oil tankers after the Islamic Revolutionary Guard Corps (IRGC) launched ballistic missiles toward two US Navy warships, with the US Central Command (CENTCOM) releasing footage showing one of the vessels being hit and later sinking in the Gulf of Oman.

CENTCOM identified the vessel as the M/T Kylo, also known as the Noxen. The command said the unladen tanker was struck at multiple critical points after its crew had been directed to abandon ship. The vessel was subsequently destroyed and sank in the Gulf of Oman. 

US says three Iranian tankers were targeted

According to CENTCOM, the strikes on Saturday targeted three Iranian crude oil carriers. The M/T Downy was struck off Kharg Island, while the M/T Stark 1 was hit near Jask. Both were described by the US military as permanently disabled.

The third vessel, the M/T Kylo, was targeted in the Gulf of Oman and was completely destroyed, according to the US military. CENTCOM said the three tankers were linked to what it described as a multibillion-dollar shadow network that finances the IRGC and its regional proxy groups. 

Strikes followed attacks on US warships

CENTCOM said the US operation came after the IRGC launched ballistic missiles toward two American Navy vessels operating in regional waters.

The US command said an aircraft carrier and a guided-missile destroyer successfully evaded multiple Iranian attacks and that no American personnel were injured. Independent reporting also cited the US military's account that neither warship was hit. 

The sequence marks a significant escalation because Washington has expanded its response beyond Iranian military targets to oil infrastructure and vessels that it says provide financial support to the IRGC.

CENTCOM issues warning to Tehran

CENTCOM commander Adm. Brad Cooper issued a direct warning following the tanker strikes.

Cooper said the US would impose a greater economic cost on Iran if American naval forces were attacked, adding that Washington would not hesitate to defend its forces and target Iran's exposed oil fleet. 

US Defence Secretary Pete Hegseth also warned that Iranian oil tankers could be destroyed and sunk if Iran continues attacking US Navy vessels, according to reports carrying his remarks. 

Iran condemns US tanker strikes

Iran has rejected the US justification for the attacks. Its Foreign Ministry described the strikes as illegal actions and accused Washington of violating the UN Charter, while characterising the operation as part of what Tehran called a broader naval blockade and economic campaign against Iran. 

Iran's IRGC has also claimed that it targeted vessels it considered linked to the United States and warned other ships operating around the Gulf and Strait of Hormuz against what it described as unauthorised movements. Those claims have not been independently verified. 

Gulf shipping faces fresh risks

The latest confrontation comes amid continuing tensions around the Strait of Hormuz, a crucial route for global energy shipments. The exchange of attacks involving oil tankers and naval vessels raises fresh concerns for commercial shipping and energy markets in the wider Gulf region.

The sinking of the M/T Kylo also signals a potentially broader shift in the US-Iran confrontation, with commercial oil carriers increasingly becoming part of the military and economic pressure campaign.

For now, Washington says the strikes were intended to deter attacks on US forces and disrupt financing for the IRGC. Tehran, meanwhile, has condemned the operation and threatened further retaliation, leaving the security situation around the Gulf and Strait of Hormuz highly volatile.

Iran's Islamic Revolutionary Guard Corps (IRGC) said it fired several ballistic missiles at a US aircraft carrier and a guided-missile destroyer that it accused of harassing Iranian vessels, marking another sharp escalation in the confrontation between Tehran and Washington in the region.

The IRGC said the US warships were targeted after what it described as hostile actions against Iranian ships. Iranian officials claimed the vessels were forced to withdraw from the area following the missile launches. However, the claims of damage to the American warships have not been independently verified. 

IRGC says US warships were targeted

According to the IRGC's account, its forces launched several ballistic missiles against a US aircraft carrier and a Navy destroyer. Iranian state-linked reports described the operation as a response to the presence and activities of American warships near Iranian maritime routes.

The IRGC accused the US vessels of harassing Iranian ships and said the missile attack was intended to push them away from the area. Iran's Revolutionary Guards also warned that further attacks could follow if American forces continued what Tehran considers interference with Iranian shipping. 

US says ships evaded the attack

The US military has given a significantly different account of the incident.

According to the US Central Command's account, an American aircraft carrier and a guided-missile destroyer successfully evaded multiple Iranian attacks. The US military said there were no reported American casualties.

The contrasting accounts mean that the IRGC's claim that the warships were struck or damaged should be treated as an Iranian assertion unless independently confirmed. 

Escalation follows US tanker strikes

The latest missile claims came shortly after the United States announced strikes against three Iranian crude oil tankers.

US Central Command said the strikes were carried out after Iranian ballistic missiles were launched toward two US Navy warships. Washington said the targeted tankers were connected to a network that financially supports Iran's Revolutionary Guard.

The US military said two of the tankers were disabled while a third vessel was destroyed. The developments have created a rapidly escalating cycle involving military vessels, commercial shipping and Iran's oil trade. 

Strait of Hormuz remains a major flashpoint

The confrontation is unfolding around one of the world's most strategically important maritime regions. The Strait of Hormuz is a critical route for global energy shipments, making any military confrontation involving Iranian and American vessels a potential threat to commercial shipping and energy markets.

Iran has repeatedly warned vessels operating in waters it considers subject to its restrictions, while the US has increased military pressure on Iranian maritime and oil assets.

The latest exchange therefore carries implications beyond the two countries, particularly for international shipping and crude oil supplies.

Claims of damage remain unverified

Iranian reports have claimed that the American warships were hit and forced to withdraw, but available US accounts do not support those claims.

The US military has said its vessels avoided the Iranian missile attacks and that no American personnel were injured. Independent confirmation of damage to the carrier or destroyer was not immediately available in the latest reports.

The competing narratives underline the rapidly deteriorating security situation between Washington and Tehran. With military vessels and oil tankers now directly involved, further incidents could increase the risk of a broader confrontation across the Gulf and surrounding waterways.

Iran has added 11 more vessels to its blacklist over what its maritime authorities describe as “non-compliance” with regulations governing transit through the strategically important Strait of Hormuz, further tightening restrictions on commercial shipping through the key energy route.

The latest additions were reported by Iran’s Persian Gulf Strait Authority (PGSA), taking the number of vessels on the blacklist to more than 50. The move comes about a week after Iran announced restrictions against dozens of tankers it accused of violating its transit arrangements. 

11 More Ships Added to List

According to reports citing the PGSA, the 11 newly listed vessels are now subject to restrictions on future passage through the Strait of Hormuz. The authority has described the vessels as non-compliant with the rules it has established for maritime traffic through the waterway. 

The action represents an expansion of measures introduced by Tehran as it seeks greater control over shipping movements through the strait amid continuing regional tensions.

Iran Had Earlier Blacklisted Tankers

The latest action follows Iran's August 24 announcement concerning 45 tankers that it said had violated its navigation rules. The vessels were warned that they could face penalties including fines, detention or cargo confiscation if they attempted to transit the waterway again. 

Iran has also warned that vessels cooperating with blacklisted ships, including through ship-to-ship transfers, could face action under its regulations.

Strait of Hormuz Remains Under Pressure

The Strait of Hormuz is one of the world's most important maritime routes for energy shipments, linking the Persian Gulf with the Gulf of Oman and the Arabian Sea. Any restrictions affecting shipping through the waterway can have wider implications for oil and gas markets.

Shipping activity through the strait has already been affected by the broader US-Iran conflict and heightened security risks. Reuters reported that the number of vessels using the route has fallen substantially compared with normal levels, while oil-market participants continue to monitor developments closely. 

Impact on Oil and Gas Trade

The restrictions come at a time when global energy markets are already sensitive to disruptions in Middle Eastern shipping. The Strait of Hormuz traditionally handles a significant share of global oil and liquefied natural gas shipments, making its security important for major energy-consuming economies.

Any further restrictions on commercial vessels could increase uncertainty for shipowners, traders, insurers and energy companies operating in the region.

Indian Shipping Interest

The developments are also relevant for India because Indian companies and vessels use the wider Gulf region for energy and commercial trade. Earlier, two vessels linked to India — LNG tanker Disha and bulk carrier Maha Roos — were identified among the 45 vessels blacklisted by Iran. 

The addition of 11 more vessels makes the evolving Iranian regulatory regime an issue closely watched by the international shipping and energy sectors.

Growing Maritime Tensions

Iran's expanding blacklist comes amid a broader escalation around the Strait of Hormuz. The waterway has become a major point of contention during the ongoing US-Iran conflict, with military activity and restrictions on shipping adding to concerns over the security of commercial vessels.

For now, the latest blacklist underscores the increasing regulatory and operational risks facing ships seeking to navigate the Strait of Hormuz. The effect on international shipping will depend on how Tehran enforces the restrictions and whether further vessels are added to the list.

Iran has warned the United States that Tehran will adopt a “new strategy” across the battlefield, diplomacy and its response to economic pressure, after the latest escalation produced the heaviest exchange of attacks between the two sides in weeks.

Mohsen Rezaei, Secretary of Iran’s Supreme National Security Council, issued the warning on Wednesday in a post on X. He said Iran’s new approach would target what he described as the US foundations through military, diplomatic and economic measures. 

Rezaei Issues Warning to Washington

Rezaei’s remarks came after a fresh round of hostilities between Iran and the US. Iranian authorities said the country carried out attacks against American positions in several locations across the Middle East, including Jordan, the United Arab Emirates, Kuwait, Bahrain and Iraq’s Kurdistan region.

The strikes followed US military operations against Iranian targets. Iranian officials said those attacks caused 18 deaths, although casualty figures and details of the strikes have been reported primarily through Iranian sources. 

The latest exchange represents a significant escalation after a period in which direct military activity between the two sides had eased.

Six-Month Conflict Enters New Phase

The renewed fighting comes roughly six months after the conflict began and has added fresh uncertainty to efforts aimed at containing the confrontation.

Iran has continued to exert pressure around the Strait of Hormuz, one of the world's most important energy and shipping routes. At the same time, the United States has maintained pressure on Iranian ports through what reports describe as a counter-blockade.

The developments have raised concerns about the potential impact on regional security and global energy supplies, particularly if military activity around Hormuz expands.

Iran Accuses US Over Sirik Strike

Separately, Iran's Foreign Ministry accused the United States of committing a war crime following a strike that hit a wedding gathering in the southern Iranian city of Sirik.

Iranian officials said four people, including a child, were killed and more than 50 others were wounded. The US military has said it does not target civilians, while US Central Command has accused Iran's Revolutionary Guards of conduct that puts civilians at risk. The circumstances surrounding the wedding strike remain disputed. The incident has added to diplomatic tensions as both sides exchange accusations over civilian casualties.

Trump Warns of Further Retaliation

US President Donald Trump has warned Tehran against further retaliation and said Washington could respond with greater force if Iranian attacks continue.

Trump has also said he does not expect the renewed conflict to continue for a long period. However, the latest exchange of attacks has demonstrated how quickly tensions can escalate despite indications that both sides remain interested in possible diplomatic solutions. 

Iranian President Masoud Pezeshkian has separately indicated that Tehran would respond positively to US moves toward an agreement aimed at ending the conflict.

Wider Regional Risks Grow

The latest confrontation has extended beyond Iran and US territory, with attacks and security alerts reported across several Gulf and Middle Eastern locations.

The Strait of Hormuz remains a particularly sensitive point. Any prolonged disruption to shipping through the waterway could affect international oil supplies and push up transportation and insurance costs.

Oil markets have already reacted to the renewed military activity. Reuters reported that Brent crude was trading around $95 a barrel on Thursday as investors assessed the risks to Middle Eastern supplies. 

What Iran’s ‘New Strategy’ Means

Rezaei did not provide specific operational details about the “new strategy”. His statement indicated that Tehran intends to combine military action with diplomacy and measures aimed at countering the economic pressure imposed on Iran.

For now, the warning signals that the latest escalation could mark a new phase in the US-Iran confrontation. Whether it leads to further military action or creates pressure for renewed negotiations will depend on the next moves by Washington and Tehran.

Iran said US missile strikes killed 11 people in Khuzestan, while Tehran launched retaliatory missile and drone attacks targeting US-linked interests in Bahrain, Kuwait and Jordan, deepening the latest escalation in the conflict.

The US-Iran conflict escalated further on Wednesday after Iran reported that fresh US strikes had killed 11 people, while Tehran launched retaliatory missile and drone attacks against targets and US-linked interests in Jordan, Bahrain and Kuwait.

Iranian state media reported that seven people were killed and eight injured in overnight US missile strikes on three locations in southwestern Khuzestan province. The latest casualties brought the number of deaths reported by Iranian authorities from the recent US strikes to 11.

The Iranian response followed a fresh series of US attacks on Iranian targets. US President Donald Trump said the strikes were carried out in retaliation for what he described as an Iranian attempt to place sea mines in the Strait of Hormuz and missile attacks directed at a US military facility in Jordan.

Iran targets US-linked positions in region

Iran's Islamic Revolutionary Guard Corps said that Camp Titin in Jordan came under an intense ballistic missile attack. Jordan's military, however, said its air defence systems intercepted 10 ballistic missiles launched from Iran.

Jordanian authorities did not report casualties or confirm that the US training facility had been struck. The military also said three additional missiles landed in remote areas.

Iranian missile and drone activity was also reported in Kuwait, while warning sirens were heard in Bahrain.

Bahrain's Interior Ministry issued a third alert within six hours, warning residents of a potential threat and urging them to remain calm and move to a safe location.

Iran's Revolutionary Guards also warned Arab states hosting US forces that they could face a severe military response unless American troops and bases were removed from their territories. The warning specifically referenced Kuwait, Bahrain and Jordan.

Wedding strike draws condemnation

The latest escalation follows US strikes earlier in the week that Iranian officials said killed civilians.

The Iranian Red Crescent said one US strike in the city of Kuhestak killed four people, including a child, and wounded more than 50 others during a wedding celebration.

Iran's embassy in India condemned the incident, saying a wedding had been turned into a funeral and expressing condolences to the victims' families.

The claims about casualties and damage come primarily from Iranian authorities and have not been independently verified in all cases.

Strait of Hormuz faces further disruption

The conflict is also putting fresh pressure on the Strait of Hormuz, a crucial global energy and shipping route.

Preliminary tracking data cited by Reuters showed that only four commodity vessels transited the Strait of Hormuz on Tuesday, compared with 10 the previous day and a 10-day average of around 13. The vessels included a very large crude carrier, a Panamax tanker, a Kamsarmax carrier and an intermediate tanker. The figures could change because some vessels switch off their tracking transponders during transit. 

The Islamic Revolutionary Guard Corps has warned that the latest US strikes could further restrict traffic through the strategic waterway. The Strait of Hormuz carried roughly one-fifth of global oil consumption before the conflict intensified, making any prolonged disruption a major concern for energy markets.

Traffic through the Bab el-Mandeb Strait was also below its recent average, with 18 commodity vessels recorded on Tuesday against a 10-day average of about 24. 

Oil prices climb

The latest exchange of strikes pushed oil prices higher as traders assessed the possibility of further supply disruptions.

Brent crude futures rose 87 cents, or 0.92%, to $95.52 a barrel in Wednesday trading, according to the figures cited in the live updates.

With tensions now spreading across multiple Gulf locations and commercial shipping through Hormuz remaining sharply below normal levels, energy markets are closely watching whether the latest escalation leads to a longer disruption of regional oil flows.

The situation remains fluid, with further Iranian retaliation and additional US military action possible as both sides respond to the latest attacks.

India had requested that journalists be allowed to attend Prime Minister Narendra Modi's meeting with US President Donald Trump during the G7 summit in France, but without a full question-and-answer session, according to US Ambassador to India Sergio Gor. Speaking at the Economic Times World Leaders Forum in New Delhi, Gor said the request was conveyed to Trump before the June 17 meeting, but the US president later invited reporters to ask questions, turning what was expected to be a limited media interaction into an extended press conference.

Gor said he discussed the planned meeting with Trump and asked whether the Indian side had any specific requests. According to the ambassador, the Ministry of External Affairs (MEA) had made only one request: allow the media into the room, but avoid a full press conference. Gor said he subsequently told Trump that the Indian side preferred “no questions”, to which the US president initially agreed. However, when the meeting began, journalists and cameras were allowed into the room as planned. After Modi and Trump made their opening remarks, Trump turned towards the reporters and asked, “Any questions?” Gor said that moment changed the format of the interaction, which eventually continued for around 45 minutes, with a wide range of issues discussed in front of the media. The Indian government has not officially commented on Gor's account.

What happened at the meeting

The Modi-Trump meeting took place on June 17 on the sidelines of the G7 summit in Evian-les-Bains, France. The interaction came at a sensitive point in India-US relations, with the two countries engaged in negotiations over a bilateral trade agreement and the wider West Asia conflict affecting shipping and energy supplies.

The Strait of Hormuz was among the issues discussed. Modi raised concerns over the safety of Indian seafarers operating in the conflict-affected region, particularly after three Indian mariners were killed in a US Navy attack on a commercial vessel. Trump responded by describing seafaring as a difficult profession while discussing the risks faced by those working in the region.

Trade and security discussions

Trade relations also featured prominently during the meeting. Trump said the United States and India were “very close” to reaching a trade agreement as both sides continued negotiations. The two leaders also discussed regional security and the broader implications of the conflict in West Asia.

Trump further offered assurances that Washington would support India if the country came under attack from another nation, although he added a qualification about whether the same commitment would apply under a future Indian leader. The remarks came against the backdrop of wider discussions on security cooperation and the evolving strategic relationship between New Delhi and Washington.

Gor's account offers a behind-the-scenes explanation of how the media interaction unfolded. What India had reportedly sought as a controlled media presence without questions instead became a much longer exchange after Trump invited reporters to participate. The episode highlights the unpredictability of Trump's public interactions with the press and provides additional context on the format of a meeting that covered trade, maritime security and regional developments.

The US Department of Defence has reported that 774 American service members have been killed or wounded since the start of the country's war against Iran, with the latest Pentagon data showing 756 troops wounded in action and 18 killed. The updated figures come amid criticism over delays and changes in the way the US military has reported casualties from the conflict.

According to the Defence Casualty Analysis System (DCAS), the combined figures under the Operation Epic Furycategory and a separate “Overseas Operations” section show 756 wounded service members. The Pentagon's database lists 18 deaths connected to the operation, taking the total number of killed and injured personnel to 774. The latest update added about 50 wounded service members to the previously reported figures. The Pentagon established the “Overseas Operations” category for casualties linked to the conflict beginning July 7, the same day US forces resumed airstrikes against Iran. Washington has said those strikes followed Iranian attacks targeting shipping and tankers in the Strait of Hormuz.

Pentagon faces casualty reporting scrutiny

The latest figures have renewed attention on the Pentagon's handling of casualty data during the Iran conflict. The Defence Department previously faced criticism from media organisations and Democratic lawmakers after the number of service members listed as killed and wounded in its database temporarily declined. The Pentagon attributed those changes to what it described as “temporary data disruptions”.

The department has also faced questions over why information about wounded personnel was not disclosed more quickly. According to reports cited in the supplied material, US officials have pointed to security considerations for delays in releasing some casualty information. The updated database now provides a substantially higher number of wounded troops than earlier public figures suggested.

Iran conflict continues

The casualty update comes as Washington's military operations against Iran continue amid uncertainty over diplomatic efforts to ease the conflict. Earlier this week, US President Donald Trump notified Congress that hostilities had resumed, giving US forces and the US Central Command theatre another 60 days to conduct military operations with congressional approval.

The Strait of Hormuz remains a major flashpoint in the confrontation because of its importance to global energy shipments. The US has linked its renewed military action to attacks on commercial shipping in the region, while negotiations aimed at easing tensions and reopening the waterway have faced difficulties.

Trump has also announced a major economic campaign against Iran as Washington increases pressure on Tehran. The US administration has described the planned measures as an unprecedented financial offensive designed to restrict Iran's ability to generate revenue and access international financial networks.

The latest Pentagon casualty figures therefore provide a clearer picture of the human cost to US forces as the conflict enters another phase. With military operations continuing alongside economic pressure and strained diplomatic efforts, further changes to the casualty figures are possible as the Pentagon updates its database and verifies reports from the battlefield.

Former UK Prime Minister Boris Johnson has called for closer coordination between India, the United Kingdom and the United States to help end the ongoing conflict involving Iran and reopen the Strait of Hormuz, a crucial route for global energy supplies. Speaking at the Economic Times World Leaders Forum on Saturday, Johnson also described the US military action against Iran as a mistake and argued that a negotiated settlement was needed to prevent further escalation.

Johnson said Iran must be prevented from acquiring nuclear weapons and supporting terrorism, but argued that political change in the country could not be achieved through air strikes. He said any long-term solution would have to come through an agreement with Tehran and greater diplomatic coordination among major powers.

Johnson calls for Iran deal

According to Johnson, the immediate priority should be to bring the conflict to an end and restore the movement of commercial vessels through the Strait of Hormuz. The waterway is one of the world's most important energy corridors, making any prolonged disruption a concern for oil markets and countries dependent on energy imports.

Johnson said India, Britain and the US should work together to find a way forward with Iran. He also stressed the need for countries to cooperate to reduce pressure on oil prices and restore normal shipping activity in the region.

Criticism of US military action

The former British prime minister criticised Washington's decision to launch military action against Iran without sufficiently consulting its allies. He said the US had walked into what he described as an "obvious trap" and argued that the conflict had created a situation from which Washington now needed a diplomatic exit.

At the same time, Johnson said he continued to prefer a US-led international order over one dominated by China. He argued that America's allies should help Washington find a way out of the current crisis rather than allow the confrontation to deepen.

Modi's role highlighted

Johnson also spoke positively about Prime Minister Narendra Modi and recalled his interactions with US President Donald Trump during Johnson's time in office.

He said Trump had previously been more willing to consult friends and listen to advice, including from Modi. Johnson's comments came as India faces a complicated strategic environment, maintaining relationships with the US, Russia and countries across West Asia while protecting its own economic and security interests.

India urged to press Russia

Johnson also turned his attention to the Russia-Ukraine conflict and urged India to use its relationship with Moscow to encourage Russian President Vladimir Putin to end the war.

He rejected the view that Russia was in a position to ultimately prevail and argued that greater pressure on Moscow was required for negotiations to produce a lasting outcome. Johnson acknowledged India's longstanding relationship with Russia and its "particular position" on the conflict.

He also backed stronger military support for Ukraine, including the possible provision of Tomahawk missiles and the transfer of frozen Russian assets to Ukraine.

Push for closer India-West ties

Johnson concluded by advocating deeper defence and strategic cooperation between India, the UK and the US. He said stronger military cooperation among the three countries would be more practical as global security challenges become increasingly interconnected.

His remarks also reflected his broader assessment of India's growing international role. Johnson praised India's economic and democratic trajectory and described the country's future as highly promising.

He also welcomed the India-UK Free Trade Agreement, negotiations for which began during his tenure as British prime minister. His comments come at a time when India is increasingly being viewed as an important partner in discussions involving global trade, energy security and geopolitical stability.