Trump Wavers on War Escalation

After threatening to escalate American attacks on Iran, Donald Trump has wavered, according to a report by the Wall Street Journal. The US president had sent more troops to the region and floated the idea of targeting energy and water assets. But now he is considering exiting the war without the Strait of Hormuz reopening, and is willing to pressure Tehran diplomatically instead, the report said, citing administration officials. Since the start of the war more than a month ago, Trump has repeatedly vacillated between saying a deal with Iran is imminent and warning he’s prepared to intensify the US military campaign.—Emma Clark

An Iranian drone hit a fully laden Kuwaiti oil tanker off Dubai in one of the most significant attacks on a vessel in the war, heightening tension around the vital Strait of Hormuz. The tanker attack pushed oil prices higher, with West Texas Intermediate futures jumping almost 4% toward $107 a barrel, before paring gains with the help of the WSJ report. Tehran has targeted ships and energy infrastructure on several occasions, but attacks on vessels in and around the strait appeared to have eased in recent days. Meanwhile, Malaysia said Tehran would allow its tankers to sail through toll free.