Iran and US trade air strikes after Trump dismisses report of Hormuz deal

The escalation in hostilities highlighted threats to the tenuous ceasefire between the US and Iran that took effect in early April, dampening hopes for a peace deal and sending oil prices surging again.

Iran’s Revolutionary Guard said on Thursday it targeted a US ​airbase after the US military carried out what a Washington official said were strikes targeting an Iranian drone operation near the Strait of Hormuz, hours after President Donald ‌Trump rejected a report he was close to a compromise deal with Tehran.