Trump said he’d “bet on” reaching a deal with Iran, dialling back earlier threats against its power infrastructure. He suggested progress could allow the Strait of Hormuz to reopen, easing pressure on energy markets, while warning there are no guarantees and conditions apply.

Washington gave a 48-hour ultimatum to reopen the Strait of Hormuz, warning of military action against energy sites if ignored. Tehran said it would target regional infrastructure in response. Shipping and oil prices face rising risk as forces in the Gulf increase readiness.

The PM has granted President Trump permission to use UK bases, including RAF Fairford and Diego Garcia, for operations to counter missile threats to the Strait of Hormuz. Framed as self‑defence, the decision prompted a Cobra meeting to assess energy market risks and potential cost‑of‑living impacts.

Israel’s PM said the regime in Tehran cannot be removed by air power alone, arguing any campaign would need a ground element. He linked the crisis to rising risks for oil and shipping and sought continued Western backing, while critics warned of escalation and economic fallout.