Photo Credit:Getty Images

Oil prices jumped roughly 2% Thursday after Iran's Revolutionary Guard announced it had targeted a U.S. airbase, escalating tensions following fresh American military strikes inside the country and reigniting fears over the flow of crude through the Strait of Hormuz.

 

Photo Credit:Getty Images

 

Iran's chief negotiator Mohammad Bagher Ghalibaf has warned that Donald Trump would face a “crushing” response if the United States resumes military attacks against Iran following the fragile ceasefire that halted the recent regional conflict.

In a social media post on Saturday, May 23, Ghalibaf said Iran had rebuilt and strengthened its armed forces during the six-week ceasefire period.

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