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The U.S. strikes on Kharg Island and Trump's threat to hit Iran's oil infrastructure mark a major escalation in the war, according to JPMorgan.
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The impact in the UK of the ongoing conflict in the Middle East features on Monday's front pages.
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President Trump has urged China, Britain, France, Japan and South Korea to send warships to help reopen the waterway, even though they were not involved in the U.S.-Israeli attack on Iran.
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U.S. allies and rivals responded cautiously after President Donald Trump said they should police the Strait of Hormuz, as Iranian threats to strike shipping on the vital trade route continue to cause chaos in global markets."Many countries, especially those who are affected by Iran's attempted closure of the Hormuz Strait, will be sending War Ships" to secure the shipping route, he posted Saturday on Truth Social, listing China, France, Japan, South Korea, the U.K. and "others" among t
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The comment from Brendan Carr came on the heels of a social media message from President Trump criticizing the news media's coverage of the war with Iran.
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Trump's administration has reportedly rebuffed efforts by Middle Eastern allies to start diplomatic negotiations aimed at ending the Iran war.
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