Trump Declares Iran Ceasefire 'Over,' Escalation Risk Spikes

President Donald Trump said the ceasefire deal with Iran was “over” and described further engagement with Tehran as “a waste of time,” following a fresh round of hostilities. Air raid sirens sounded across Bahrain and Kuwait earlier in the day. Iran claimed it had struck 85 US military installations in retaliation for attacks on its Hormozgan province and the port city of Mahshahr.

Speaking at the NATO summit in Ankara, Trump said the United States had hit Iran “very hard” and warned that Washington would respond to any further attacks. “I told them that every time you hit, we hit,” he said. He called Iran’s leaders “dirty players” and “evil people.” Trump reiterated that the US objective was denuclearisation. “We’re going to denuke it,” he added.

He also criticised NATO for not doing more to confront what he called “the number one state-sponsored terror,” referring to Iran.

Traders said the risk of a broader Middle East conflict had increased sharply. The escalation puts oil markets on alert, given the region’s role in global supply. Defense stocks such as Lockheed Martin and RTX often see a bid during such episodes, though the extent of the move depends on whether the confrontation widens. Safe-haven demand for gold and the dollar could also rise, traders said.

Iran’s next move is the key variable. A direct strike on US assets or a disruption to oil flows through the Strait of Hormuz would mark a significant escalation. A diplomatic off-ramp appears unlikely after Trump’s latest remarks. The situation remains fluid. No date has been set for further talks.