The US military carried out a second wave of strikes on Iran on Wednesday, aimed at degrading its ability to target vessels in the Strait of Hormuz, as US and Iranian forces exchanged fire for a fourth day.

US President Donald Trump said the United States would strike Iran’s bridges and power plants next week unless Tehran returned to negotiations. He said Iran had released an American woman detained since December 2024. Separately, US Senate Democrats blocked a $1.15 trillion annual defence policy bill in a procedural vote (50-46).

What to watch

Diplomatic efforts, the impact on the Strait of Hormuz, and oil markets.

Sources: CNN, Times of Israel, Just Security.