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Dozens of countries sought ways to restart vital energy shipments through the Strait of Hormuz on Thursday after US President Donald Trump vowed more aggressive attacks on Iran, sending oil prices higher again and deepening strain on consumers.<\/p>\n
After speculation proved untrue that Trump might discuss ending the war in a speech on Wednesday, the president persisted with threats on Thursday, saying in a social media post: \u201cIT IS TIME FOR IRAN TO MAKE A DEAL BEFORE IT IS TOO LATE\u201d.<\/p>\n \n <\/a>\n <\/p><\/blockquote>\n <\/span><\/div>\n<\/figure>\n He also posted video of the US bombing a newly constructed bridge on Thursday between Tehran and the major northwest suburb of Karaj. The B1 bridge was scheduled to open to traffic this year. According to Iran\u2019s state media, eight people were killed and 95 others were wounded in the US attack.<\/p>\n \u201cStriking civilian structures, including unfinished bridges, will not compel Iranians to surrender,\u201d Iran Foreign Minister Abbas Araqchi said in a statement.<\/p>\n \n <\/a>\n <\/p><\/blockquote>\n <\/span><\/div>\n<\/figure>\n In the speech on Wednesday night, Trump repeated his threats against Iran\u2019s civilian power plants and gave no clear timeline for ending hostilities, drawing vows of retaliation from Iran and depressing share prices.<\/p>\n \u201cWe\u2019re going to hit them extremely hard over the next two to three weeks,\u201d Trump said amid mounting domestic pressure to end the conflict. \u201cWe\u2019re going to bring them back to the Stone Ages where they belong.\u201d Nearly five weeks after it started with a joint US-Israeli aerial assault, the war in Iran continues to spread chaos across the region and roil financial markets, raising the pressure on Trump to find a quick resolution to the conflict.<\/p>\n Britain chaired a virtual meeting on Thursday of some 40 countries to explore ways to restore freedom of navigation that did not produce any specific agreement, although participants agreed that all nations should be able to use the waterway freely, one official said.<\/p>\n Iran has effectively shut down the Strait of Hormuz, which normally carries about a fifth of the world\u2019s total oil trade, in retaliation for US-Israeli attacks that began on February 28. The war has caused an increase in oil prices, inflation concerns, supply-chain problems and worries about the impact on the global economy.<\/p>\n Tehran offered a competing vision for future control of the strait, and said it was drafting a protocol with neighboring Oman that would require ships to obtain permits and licenses.<\/p>\n \u201cThese requirements will not mean restrictions, but rather to facilitate and ensure safe passage and provide better services to ships that pass through this route,\u201d Deputy Foreign Minister Kazem Gharibabadi said, according to the official IRNA<\/em> news agency.<\/p>\n An Iranian military spokesperson said the strait would remain closed \u201clong term\u201d to the US and Israel.<\/p>\n $108 Benchmark Brent crude prices jumped by about 7 per cent to around $108 per barrel, US bond yields spiked and global equity markets gave back gains.<\/p>\n \u201cThe key question in all investors\u2019 minds is when is this going to be over?\u201d said Russel Chesler, head of investments and capital markets at VanEck Australia.<\/p>\n Trump in Wednesday\u2019s speech, told countries that rely on fuel shipments through the Strait of Hormuz to \u201cjust grab it\u201d.<\/p>\n However, European and other states have said they will only help secure the strait if there is a ceasefire.<\/p>\n \u201cIt can only be done in consultation with Iran,\u201d French President Emmanuel Macron said.<\/p>\n Iran\u2019s armed forces responded to Trump with a warning of \u201cmore crushing, broader and more destructive\u201d attacks in store.<\/p>\n The war will continue until the \u201cpermanent regret and surrender\u201d of Iran\u2019s enemies, said Ebrahim Zolfaqari, spokesperson for the Iranian military\u2019s Khatam al-Anbiya central headquarters, in a statement carried by Iranian media.<\/p>\n Iran\u2019s Fars<\/em> news agency later listed several bridges in Saudi Arabia, Kuwait, Abu Dhabi and Jordan, which host US military bases, as potential targets for Iran\u2019s military in response to the US attack on the B1 bridge. The Revolutionary Guards said they had targeted an Amazon cloud computing centre in Bahrain.<\/p>\n There are fears the conflict may leave Iran with a stranglehold over Middle East energy supplies now that it has shown that it can block the Strait of Hormuz by targeting oil tankers and attacking Gulf countries hosting US troops.<\/p>\n<\/p>\n<\/p>\n<\/a>Oil hits<\/h2>\n
<\/a>Iran threatens more attacks<\/h2>\n