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President Donald Trump dropped his push for U.S. allies to protect the Strait of Hormuz from Iranian threats — an about-face that came just one day after he called upon nations to "get involved" so oil tankers can safely navigate the crucial shipping lane.
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Israel says it has killed two top Iranian leaders in airstrikes. One killed was the head of the National Security Council, a hardliner who had been a negotiator on Iranian nuclear talks.
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Oil prices pared gains on Tuesday as uncertainty lingered over a U.S.-led coalition to protect shipping through the Strait of Hormuz.
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Also, the Senate begins a bitter debate about voting rules. Here's the latest at the end of Tuesday.
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With the Xi-Trump summit almost certainly delayed, and tensions rising over the war in Iran, vital issues for both the U.S. and China are also being cast into uncertainty.
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Iranian-linked ships carrying Russian oil were among those that received temporary exemptions from sanctions, a sign of how dire the energy crisis is becoming.
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US allies have either pushed back or remained cautious on Trump's request to send ships to the crucial oil route.
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