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Photographer: MAJID\/AFP\/Getty Images<\/p>\n
(Bloomberg) — The US and Israel are conducting their most intense day of attacks yet against Iran and won\u2019t give up until the Islamic Republic is beaten, the Pentagon said, striking a more aggressive tone after President Donald Trump\u2019s suggestion the war could end soon.<\/p>\n
Most Read from Bloomberg<\/p>\n
\u201cWe will not relent until the enemy is totally and decisively defeated,\u201d Defense Secretary Pete Hegseth said during a press conference Tuesday. \u201cWe do so on our timeline and at our choosing.\u201d <\/p>\n
His comments indicate Washington isn\u2019t looking for ways to de-escalate the conflict, which has spread across the Middle East and pushed the region\u2019s energy giants to crisis point.<\/p>\n
Oil retreated from highs of almost $120 a barrel on Trump\u2019s proclamation that the campaign is ahead of schedule, but the critical Strait of Hormuz remains all but shut and Saudi Arabia, Iraq, the United Arab Emirates and Kuwait have all slashed production.<\/p>\n
WATCH: Defense Secretary Pete Hegseth says the US is unleashing the \u201cmost intense\u201d day of strikes on Iran.Source: Bloomberg <\/p>\n
Asked whether he would be willing to talk to the Iranians, Trump said it would be possible but was non-committal, Fox News reported. Iranian officials have pushed back against that idea, with Parliament Speaker Mohammad Bagher Qalibaf saying the country is \u201cabsolutely\u201d not seeking a ceasefire.<\/p>\n
White House Press Secretary Karoline Leavitt is set to brief reporters at 2 p.m. in Washington on Tuesday.<\/p>\n
The US and Israel bombarded Iran for an 11th day, with the Islamic Republic firing drones and missiles at targets across the Middle East in return. <\/p>\n
The biggest oil refinery at Ruwais in the United Arab Emirates halted operations after a drone strike caused a fire in the industrial area in which it\u2019s located, according to people familiar with the matter. Abu Dhabi National Oil Co. was assessing damage at the plant, the people said.<\/p>\n
\u201cWe\u2019re concerned at the apparent lack of a joint plan on how this war can quickly be brought to a convincing conclusion,\u201d German Chancellor Friedrich Merz told reporters.<\/p>\n
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Addressing concerns about soaring energy prices, Trump said Monday that the US Navy will escort tankers to maintain a steady oil supply through the Strait of Hormuz. The effective closure of the waterway \u2014 vital to the world\u2019s flow of petroleum \u2014 has created bottlenecks and caused regional energy giants to slash production. There\u2019s little sign Hormuz can be opened quickly without at least a pause in hostilities.<\/p>\n
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Saudi Aramco Chief Executive Officer Amin Nasser called the disruption \u201cthe biggest crisis the region\u2019s oil and gas industry has faced.\u201d<\/p>\n
Brent crude eased to about $91 on Tuesday following Trump\u2019s comments about the war ending soon. That\u2019s still more than 50% higher than at the start of the year.<\/p>\n
There are early signs Iran\u2019s attacks on some countries, including the UAE, are waning. Countries from Australia to South Korea and the UK have also helped to boost defenses of Gulf allies or are assessing requests to do so.<\/p>\n
\u201cIran fired the lowest number of missiles they\u2019ve been capable of firing\u201d in the past 24 hours, Hegseth said.<\/p>\n
Airlines in the Persian Gulf are slowly starting to increase flights even as countries continue to intercept missiles and drones. Thousands of passengers have been stranded in various locations due to the war\u2019s impact on aviation via the region.<\/p>\n
Iranian President Masoud Pezeshkian said Tehran is prepared to scale back the conflict \u201con the condition that the airspace, territory, and waters\u201d of neighboring countries aren\u2019t used to launch attacks on the Islamic Republic, according to semi-official Mehr news agency.<\/p>\n
Pezeshkian made those remarks during a phone call with Turkey\u2019s President Recep Tayyip Erdogan, following the interception of an Iranian missile in Turkish airspace by NATO\u2019s air defenses on Monday. NATO is increasing air defenses in southeast Turkey, where the US operates a key radar supporting the alliance\u2019s ballistic missile shield.<\/p>\n
More than 1,300 Iranians have been killed in the war so far, according to an official toll that number hasn\u2019t been updated for several days. The US reported its seventh casualty on Sunday. Two Israeli soldiers and about a dozen civilians also have died, while several deaths have been reported in Gulf countries.<\/p>\n
Israeli forces maintained attacks on southern Lebanon on Tuesday, aiming to degrade Iran-aligned Hezbollah. Some 486 people have been killed in Lebanon, according to the nation\u2019s health ministry.<\/p>\n
Trump pledged during his election campaign not to allow the US to become involved in protracted foreign wars, and there\u2019s a risk that more American casualties and sustained high gasoline prices will weigh on the Republican Party\u2019s chances in mid-term elections in November.<\/p>\n
Polls show an overwhelming majority of Americans oppose the war, and it\u2019s been condemned by several GOP politicians.<\/p>\n
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Trump said he could waive \u201ccertain oil-related sanctions to reduce prices\u201d but didn\u2019t offer specifics beyond acknowledging he had discussed the topic with Russian President Vladimir Putin. Moscow has faced a range of restrictions on its vast oil industry, including a price cap on its crude and US sanctions on its two largest producers \u2014 a bid to deprive the country of revenue over its war in Ukraine.<\/p>\n
\u201cWe\u2019re looking to keep the oil prices down,\u201d the US president said. \u201cThey went artificially up because of this excursion.\u201d<\/p>\n
On Sunday, Iran chose Mojtaba Khamenei as the country\u2019s new supreme leader. His father Ali Khamenei ruled the country for almost 37 years and was killed when US-Israeli strikes began on Feb. 28.<\/p>\n
The 56-year-old has deep ties to the Islamic Revolutionary Guard Corps, about the most powerful military and economic organization in Iran. The group pledged full obedience to the new leader. He\u2019s yet to speak publicly since being elected.<\/p>\n
–With assistance from Omar Tamo, Galit Altstein, Dan Williams and Paul Wallace.<\/p>\n
(Updates with further Hegseth comment in second paragraph.)<\/p>\n
Most Read from Bloomberg Businessweek<\/p>\n
\u00a92026 Bloomberg L.P.<\/p>\n","protected":false},"excerpt":{"rendered":"Photographer: MAJID\/AFP\/Getty Images (Bloomberg) — The US and Israel are conducting their most intense day of attacks yet…\n","protected":false},"author":2,"featured_media":515229,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[23,7904,233173,801,198306,803,224856,3,1572,942,210369,11636,21,19,22,20,25,24],"class_list":["post-515228","post","type-post","status-publish","format-standard","has-post-thumbnail","category-united-states","tag-america","tag-bloomberg","tag-energy-giants","tag-iran","tag-islamic-republic","tag-israel","tag-mohammad-bagher-qalibaf","tag-news","tag-pete-hegseth","tag-president-donald-trump","tag-strait-of-hormuz","tag-united-arab-emirates","tag-united-states","tag-united-states-of-america","tag-unitedstates","tag-unitedstatesofamerica","tag-us","tag-usa"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/515228","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=515228"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/515228\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/515229"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=515228"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=515228"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=515228"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}