Iran Warns of Strikes on U.S. if Attacks Resume

Iran warned on Thursday that it would launch "long and painful strikes" against U.S. positions in the region if Washington resumes attacks, as a fragile ceasefire holds amid the ongoing closure of the Strait of Hormuz. The vital waterway, through which 20 percent of the world's oil and gas supplies pass, has remained blocked by Iran for two months since the U.S.-Israeli war with Tehran began on February 28. The standoff stems from Iran's response to a U.S. naval blockade of its oil exports, which has crippled the country's economy.

A U.S. official said President Donald Trump was scheduled to receive a briefing Thursday on options for fresh military strikes aimed at pressuring Iran into negotiations. Reports of the briefing, first published by Axios, drove benchmark Brent crude prices above $126 a barrel briefly before they settled around $113 to $114. Prices have doubled since the conflict started, fueling global inflation and raising pump prices to politically sensitive levels.

Iranian Aerospace Force Commander Majid Mousavi, a senior Revolutionary Guards official, stated that any U.S. attack, even if limited, would prompt retaliation. "We've seen what happened to your regional...