US-Iran Clashes Test Interim Ceasefire as Gulf Tensions Escalate

US and Iran exchanged missile and drone strikes overnight, the most serious flare-up since the April ceasefire, drawing Kuwait and Bahrain into the crossfire. Oil prices rose and stocks fell as negotiators push to extend the interim truce and reopen the Strait of Hormuz, but final terms remain unresolved amid broader regional tensions and disputes over funds and uranium stockpiles.