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Trump Threatens Iran Bombing; Hormuz Shutdown Slashes $100 Oil

5/7/2026

33 6 Full Breakdown

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Trump Warns Iran
  • President Donald Trump warned Iran bombing would resume if Tehran rejected deal to end war and reopen Hormuz Strait.
  • Freedom escort mission was paused by President Donald Trump in Strait of Hormuz as U.S. blockade of Iranian ports continues.
  • Chinese Foreign Minister Wang Yi met Abbas Araghchi urging Tehran to reopen the strait.
  • Brent crude fell $100 a barrel, causing shipping to report $60 million losses from Hormuz shutdown.
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