2026-05-08
US and Iran trade fire in Hormuz. Oil spikes. Markets brace.
Good morning. The Middle East grabbed the markets' attention early. Three American destroyers took fire in the Strait of Hormuz; the US struck back at Iranian military targets. Trump declared the ceasefire intact. Oil traders disagreed, sending Brent crude toward $100.
Brent crude jumped as the US and Iran traded fire. Oil neared $100 a barrel.
Morning Reality Check
Middle East crisis live: Trump insists ceasefire is intact after Iran and US exchange fire in Hormuz
Three American destroyers came under fire in the Strait of Hormuz. The US responded with strikes on Iranian military targets. In Lebanon, a civil defence rescue worker was killed in an Israeli strike.
Following US strikes on Iranian targets, Trump warned of 'violent' escalation unless a deal materializes quickly. Oil markets flashed distress signals; equities sat in wait-and-see mode as Brent neared $100.
Washington and Tehran exchanged accusations and military fire on Thursday. The US reported intercepting Iranian attacks and striking back at military targets. Tehran reported retaliatory action. The ceasefire, described as fragile, bent.
The actor deleted a photo depicting Trump as deceased from Bluesky after facing criticism Thursday, then posted an apology image.
The tournaments will add eight teams each starting next season, with additional early-round games in week one. The overall format stays intact.
Three hikers in an off-limits area died when Mount Dukono erupted, police said.
Brent crude rose amid military exchanges in the critical waterway.
Trump threatened massive strikes if Iran rejects a US agreement, even as he claimed the ceasefire holds. Oil markets showed 'deep distress.' Prediction markets priced in low odds of swift diplomacy.
- State Department to revoke passports over unpaid child support
- Live Updates: Early U.K. Election Results Point to Big Losses for Starmer’s Party
- Einride CEO: electric, autonomous trucks reshape logistics
- British Airways owner sees profit hit from soaring fuel costs
- Clariant CEO: chemical demand solid despite Hormuz blockade
- Reform UK surges in local elections as Labour stumbles
- Waymo vs. Wayve: rival self-driving bets clash in London
- Nintendo raises Switch 2 price to $500
- Autonomous Driving Showdown: Who Will Win the Self-Driving Race? | Bloomberg Tech: Europe 5/08/2026
- Rogan floats UFO disclosure as Iran war distraction
"Almost respectable. Use it cautiously."
"Worth paying attention to. Don't doomscroll."
Oil spiked. Diplomacy stalled. Markets hedged their bets.
Back at 12:00 PM ET with the lunch reset brief.