US forces conduct strikes after Iran's attack
The United States Central Command (CENTCOM) said on Tuesday that it had intercepted and defeated a series of Iranian missile and drone attacks targeting regional neighbors, including Kuwait and Bahrain, while also carrying out self-defence strikes on Iran’s Qeshm Island, ABC News reported.
US President Donald Trump announced the open-ended extension of the ceasefire and the continuation of a US blockade until negotiations are concluded "one way or the other.” Meanwhile, US Secretary of State Marco Rubio said on Tuesday that Washington will not remove sanctions on Iran in exchange for a full reopening of the Strait of Hormuz, adding that any sanctions relief is conditioned on Iran giving up enriched uranium.
Market reaction
Crude oil prices attract some buyers following this headline. At the time of writing, the West Texas Intermediate (WTI) is up 1.21% on the day at $92.75.
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As the 10-year US Treasury yield breaks above 5% and Japanese bond yields fall below 3%, global bond market pressure surges!
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