The World in Brief from The Economist

Donald Trump said he was considering “winding down” the war against Iran because America was “very close” to meeting its aims; America lifted sanctions on some Iranian oil in an attempt to calm volatile energy markets.

Meanwhile American stocks fell; the S&P 500 and the NASDAQ closed 1.5% and 2% lower respectively

Donald Trump said he did not want a ceasefire with Iran and that NATO allies lacked “courage” to help America reopen the Strait of Hormuz; The price of Brent crude, the global oil benchmark, reached $112 a barrel as fears of a global energy shortage grew

Israel claimed that American-Israeli strikes had destroyed Iran’s capability to enrich uranium and make ballistic missiles. Also, Scott Bessent said the Trump administration would consider easing sanctions on Iranian oil at sea in a bid to calm volatile energy markets.

Binyamin Netanyahu, Israel’s prime minister, claimed Iran no longer has the capability to enrich uranium or make ballistic missiles.

Binyamin Netanyahu, Israel’s prime minister, claimed Iran no longer has the capability to enrich uranium or make ballistic missiles; Scott Bessent, America’s treasury secretary, said the Trump administration would consider easing sanctions on Iranian oil at sea as it tries to quell volatile energy markets.

Donald Trump said he “knew nothing” about Israeli strikes on the Iranian segment of the South Pars gas field. Also, the Bank of Japan left its main short-term interest rate unchanged at 0.75%, as expected.

Brent crude, the global oil benchmark, jumped above $110 a barrel after an Iranian missile strike on Ras Laffan, Qatar’s main energy hub.