00:00Trump escalated his most extreme threats yet against Iran on Tuesday, warning of civilizational destruction unless Tehran agrees to reopen
00:09the Strait of Hormuz before his 8 p.m. deadline, even as U.S. forces struck Karg Island, Iran's main
00:15oil export terminal, overnight.
00:18Iran has kept the Strait largely closed since the war began in late February, triggering a historic oil price shock
00:25and sending global energy prices surging.
00:27Ceasefire talks appear to be at an impasse. Iran has rejected any temporary deal.
00:33Trump has dismissed the 45-day proposal floated by regional mediators, and both sides are digging in.
00:40J.P. Morgan analysts caution that despite heavy military losses, Iran shows no signs of capitulating and maybe betting it
00:48can outlast its opponents.
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