The U.S. has undertaken “self-defense” strikes in Iran on Sunday as President Donald Trump says Iran wants a deal and urges critics to stop second-guessing his negotiation strategy.
Dow Futures Rise As Markets Watch Iran Tensions Escalate
Dow futures rose 363.49 points, or 0.72%, to 51,032.46, while S&P 500 futures gained 21.00 points, or 0.28%, to 7,616.75, and Nasdaq 100 futures climbed 145.50 points, or 0.48%, to 30,552.00 as of around 3:31 a.m. EDT.
In commodities, WTI crude oil climbed 3.49% to $90.41 per barrel. Brent crude added 2.17% to $86.01 per barrel.
Natural gas futures rose 3.13% to $3.393 per MMBtu.
Meanwhile, the U.S. dollar index stood at 98.98, up 0.07%.
Asian markets were higher, with South Korea’s KOSPI gaining 3.68% to 8,788.38 and Japan’s Nikkei 225 rising 0.91% to 66,934.33.
US Hits Iranian Radar Networks
According to an update on X by the Central Command, the U.S. carried out strikes in Iran over the weekend, hitting Iranian radar and command and control sites. The strikes were in response to “aggressive Iranian actions,” including the shooting down of a US MQ-1 drone operating over international waters.
U.S. fighter aircraft swiftly countered by disabling Iranian air defenses, a ground control station, and two attack drones that were a significant threat to ships navigating regional waters.
In a separate development, Iran’s Islamic Revolutionary Guard Corps (IRGC) claimed it had struck a U.S. air base allegedly used to launch an attack on a telecommunications tower on Sirik Island, reported an Iranian state-affiliated news outlet.
On Friday, the U.S. CENTCOM disabled a fifth commercial vessel, firing a Hellfire missile into the engine room of a Gambian-flagged ship defying the U.S. naval blockade of the Strait of Hormuz. CENTCOM said the Gambia-flagged cargo ship M/V Lian Star ignored more than 20 warnings while heading toward an Iranian port in the Gulf of Oman.
Trump Urges Patience On ‘Good’ Deal
So far, the two nations have been unable to finalize an agreement to end the four-month-long conflict.
On Monday, Trump took to his Truth Social to say that Iran is eager to reach a deal that would benefit the U.S. and its allies. He criticized Democrats and some Republicans for publicly second-guessing his approach to negotiations, arguing that such commentary makes it harder to negotiate effectively.
“Just sit back and relax, it will all work out well in the end – It always does!” wrote Trump urging critics to be patient.
On Saturday, Trump indicated that he is not in “a hurry” to reach a deal, emphasizing the importance of preventing Iran from obtaining nuclear weapons. Trump also sent back revisions to a proposed deal aimed at extending the current ceasefire and reopening the Strait of Hormuz, as per Axios report.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock
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