Breakfast News Recap: US and Iran tensions deepen as oil spikes and Gaza, Lebanon fighting widens

President Donald Trump said he is close to deciding on a “massive attack” on Iran, as the confrontation with Tehran intensified and the White House weighed its next move.  🔗

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In Washington, the House voted to limit Trump’s power to wage war against Iran, even as a Senate measure failed and fighting in the region continued to escalate.  🔗

Trump also warned Iran of military punishment over renewed Houthi attacks on shipping, while the truce reached in June between the United States and Iran was reported to have ended amid fresh bombings, drone strikes and missile attacks across the region.  🔗 🔗

Oil markets reacted sharply, with Brent crude rising above $100 a barrel for the first time since May as attacks on Saudi tankers and wider West Asia tensions rattled Red Sea shipping and disrupted traffic through the Strait of Hormuz.  🔗 🔗

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In Gaza, Israeli forces issued displacement orders for four areas before strikes killed at least two Palestinians, while in East Jerusalem more than 4,200 Israeli settlers and far right groups entered the Al Aqsa Mosque compound, drawing regional condemnation.  🔗 🔗

Israel also carried out blasts and strikes in southern Lebanon despite the ceasefire deal, hitting al Mansouri and the nearby village of Majdal Zoun, adding to fears that the conflict could spread further.  🔗

Yemen remained a flashpoint too, with the UN envoy warning that renewed Houthi attacks on Red Sea shipping could drag the country back into full scale war, while Yemen’s leadership announced that oil exports are set to resume after a halt since late 2022.  🔗 🔗

Elsewhere in the Middle East, Iraqi Prime Minister Ali al Zaidi made his first official visit to Iran for talks on security and cooperation, and the White House said a proposed US Saudi nuclear deal had already been tied by Trump to Saudi recognition of Israel and joining the Abraham Accords.  🔗 🔗

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In Europe and the UK, the government said it was ready “24/7” to defend itself after Iran threatened RAF Fairford, while BAE Systems chief warned Britain had been too complacent about the risk of foreign attack.  🔗 🔗 British Prime Minister Andy Burnham also ruled out a new Scottish independence referendum after a meeting in Glasgow.  🔗

Ukraine saw both military and political developments, with a drone strike sparking a fire at a Wildberries warehouse near Saint Petersburg and at least three people injured, while Kyiv replaced its defence minister and commander in chief in a major leadership shake up.  🔗 🔗 A senior Ukrainian MP also said political will could protect jobs at Aughinish Alumina if sanctions are imposed.  🔗

Across Asia, India’s DRDO carried out the first flight test of the Kusha long range surface to air missile, Sonam Wangchuk ended a 26 day hunger strike over exam paper leaks, and Nepal’s Prime Minister Balendra Shah is due to meet the Indian and Chinese envoys separately in Kathmandu.  🔗 🔗 🔗 The Democratic Republic of Congo also opened its first UNICEF supported nursery for infants and children affected by Ebola as the outbreak intensified.  🔗

In the United States, Trump said he would not block the extradition of Andrew Tate and Tristan Tate to the UK, while a Tennessee man, James Anthony Morris, was sentenced to 25 years in federal prison for production of child pornography.  🔗 🔗 UN investigators also urged Iran to halt the executions of 10 protest participants.  🔗

Italy’s Giorgia Meloni and Egypt’s Abdel Fattah El Sisi discussed bilateral ties, migration and regional stability in a phone call on Egypt’s National Day, while Trump also endorsed Rick Jackson for Georgia governor, signalling tighter MAGA alignment in the state.  🔗 🔗

Financial glimpse

Asia Pacific opened higher, with Tokyo and Seoul lifted by the oil shock, firmer gold and silver, and a weaker yen, while risk sentiment stayed fragile across the region.  🔗

By the close, Tokyo and Hong Kong were higher, but South Korea and Australia fell as Brent’s surge kept pressure on broader risk appetite.  🔗

Europe opened mixed, with the FTSE 100 edging up while the DAX, CAC 40 and Euro Stoxx 50 slipped, as Brent crude jumped sharply.  🔗

Wall Street finished sharply lower, dragged down by Tesla and mega cap technology, while energy, defence and commodity linked assets outperformed as oil surged.  🔗

Sources in this recap

360LiveNews Recap 360LiveNews Recap | 24 Jul 2026 08:37 LONDON
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