Oil prices had already fallen quite dramatically on Thursday and Friday, in anticipation of an imminent deal. President Trump has posted online that the Strait of Hormuz will reopen after the deal is signed on Friday.
The latest threat comes after a second day of intensified strikes between the U.S and Iran, pushing the Middle East closer to the resumption of a full-scale war.
Global conflicts surged to the highest number tallied by Uppsala Conflict Data Program. Fatalities were the highest on record since 1994, with approximately 244,600 people killed in conflict in 2025.
A U.S. Army Apache attack helicopter crashed near the Strait of Hormuz, with President Trump saying the two crew members on board were "fine" after the incident. Trump also expressed optimism over negotiations with Iran.
The exchange marked a major escalation in the already tense region. It came on the 100th day of the U.S. and Israel's war with Iran as the heightened tensions further complicated efforts to end Middle East fighting.
President Trump is dismissing the idea that launching the war with Iran betrayed his refrain of "No new wars" as he campaigned for the White House in 2024.
The Iranian-French cartoonist and filmmaker was perhaps most well-known for the graphic memoir, and subsequent film, about her life during the Iranian revolution in 1979.
The vote marked a rare bipartisan rebuke of the war, but is mostly symbolic. Democrats have been unable to pass a war powers resolution in the Senate, and even if they could it would likely be vetoed.
President Trump will meet with his Cabinet on Wednesday at a precarious moment for talks aimed at ending the war with Iran. The emerging deal has already exposed the president to fierce criticism.
Israel says it will intensify attacks against Hezbollah in Lebanon and U.S. military struck Iranian boats and missile launch sites as envoys continued negotiations for a deal that would end the three-month war.
