Last updated: July 8, 2026

Trump Says Iran Ceasefire Is Over and Warns of More Strikes

President Donald Trump said the U.S.-Iran ceasefire was effectively over and warned that American forces would probably strike Iran again Wednesday night. The warning came after attacks on commercial vessels in the Strait of Hormuz triggered a new U.S. military response and Iranian retaliation against American military sites in the Gulf. Oil prices surged as the renewed fighting revived fears of another major disruption to one of the world's most important energy routes.

What We Know So Far

Trump made the comments in Ankara, Turkey, during a NATO summit after the United States and Iran accused each other of violating the interim agreement that had paused their war. Asked about the ceasefire, Trump said, according to AP News, that he believed it was over. He said U.S. representatives could continue negotiations but described further talks as a waste of time.

The latest escalation followed attacks on three commercial ships in the Strait of Hormuz. U.S. Central Command said American forces struck Iranian air-defense systems, radars and more than 60 small boats used by the Revolutionary Guard. CNBC reported that Central Command said more than 80 targets were hit in the broader operation, including command networks and anti-ship missile capabilities.

Iran then targeted U.S. military installations in Bahrain and Kuwait. Kuwait said it intercepted two ballistic missiles and 13 drones. Iranian state media also reported explosions in several locations after the U.S. attacks, including Bandar Mahshahr and Bushehr.

The United States also revoked a temporary license that had allowed Iran to sell oil openly in U.S. dollars under the interim agreement. That decision added economic pressure to the military escalation. The agreement had allowed ships to pass through the strait without charges for 60 days, but Iran had insisted on controlling routes and later charging passage fees.

What People Are Saying

We hit them very hard last night. We'll probably hit them hard again tonight.

Trump said negotiations could continue but made clear that he had little confidence in the process. U.S. Defense Secretary Pete Hegseth, speaking alongside Trump, said American forces were prepared to strike even more deeply into Iran if ordered.

The era of bullying and extortion is over. It leads nowhere. We don't fold.

Iran's Foreign Ministry called the U.S. strikes a gross violation of the memorandum of understanding and said Iranian forces would defend the country's territorial integrity and national security. Qatar also condemned the attack on a tanker carrying Qatari natural gas and held Iran legally responsible.

How This Affects You

For Americans, the most immediate risk is higher energy costs. Brent crude jumped more than 5% after Trump's comments, while CNBC reported Brent near $78.41 a barrel and U.S. West Texas Intermediate near $74.60. CBS News reported even larger intraday gains, with Brent up 6.3% and WTI up 6.4%.

That matters because sustained increases in crude prices can feed into gasoline and transportation costs. CBS News reported that the Dow fell 479 points in early trading, while the S&P 500 and Nasdaq also declined. Higher energy costs could also complicate the inflation outlook and increase pressure on the Federal Reserve to keep interest rates higher.

The size of the risk depends heavily on whether oil continues moving through the Strait of Hormuz. CNN reported that traffic had been running at about one-third of normal and that the waterway remained open to ships willing to accept the risk. The same report said the U.S. Strategic Petroleum Reserve had fallen to 319.5 million barrels, down 23% from its pre-war level.

Coming Up

Trump said the United States would probably strike Iran again Wednesday night, while negotiations were still technically allowed to continue. The next confirmed milestone is Thursday, when funeral ceremonies for Iran's Supreme Leader Ayatollah Ali Khamenei are due to end and his burial is planned in Mashhad.

Markets will also be watching whether commercial shipping continues through the Strait of Hormuz and whether the United States restores a naval blockade against Iranian ports. Trump said that option was under consideration, but the provided reports did not confirm that a new blockade had begun.

At a Glance

• Trump said he considers the U.S.-Iran ceasefire over.
• He warned that the United States would probably strike Iran again Wednesday night.
• U.S. forces struck Iranian military targets after three commercial ships were attacked.
• Iran retaliated against U.S. military sites in Bahrain and Kuwait.
• Oil prices jumped more than 5% as fears of renewed disruption grew.
• The Strait of Hormuz remained open, but shipping traffic was far below normal levels.

FAQ

Why did Trump say the Iran ceasefire is over?

Trump spoke after attacks on three commercial ships in the Strait of Hormuz, new U.S. strikes on Iran and Iranian retaliation against American military sites in Bahrain and Kuwait.

Will the U.S. strike Iran again?

Trump said on July 8 that the United States would probably hit Iran hard again that night. The provided reports did not confirm that a further strike had already occurred.

Why are oil prices rising?

Traders are worried that renewed fighting could reduce or halt shipping through the Strait of Hormuz, a major route for global oil and natural gas supplies.

Could this raise U.S. gasoline prices?

Yes. A sustained increase in crude oil prices can increase fuel and transportation costs, although the reports did not establish how large or lasting any increase would be.

Is the Strait of Hormuz closed?

No. The provided reports said the strait remained open, but traffic was reduced and some vessels had turned back because of the security risk.