The United States and Israel are preparing to bomb energy infrastructure inside Iran as soon as this weekend, CBS News reported. President Trump has yet to approve the operation, while former U.S. envoy Dennis Ross says Trump's strategy of military pressure on Iran is unlikely to succeed without a clear objective. Oil prices climbed after Iran said it is halting ships in the Strait of Hormuz.
The United States and Israel are planning a bombing campaign against energy infrastructure targets inside Iran, with strikes possible throughout the weekend, CBS News reported Friday, citing sources. President Trump has yet to give the final go-ahead for the operation, according to the sources.
This would be one of the harshest campaigns yet against Iranian energy infrastructure since the U.S.-Israeli war against Iran began, CBS said. Officials have also discussed concluding the strikes before financial markets open Monday, according to the report.
Ross Doubts Trump's Iran Strategy
Former U.S. Middle East envoy Dennis Ross said Friday that Trump's strategy of increasing military pressure on Iran is unlikely to succeed without a clear objective. The campaign has included strikes on air defenses, missiles, and maritime targets aimed at curbing Iran's regional influence and nuclear ambitions, the outlet reported.
Ross's remarks appeared to influence market pricing, which now reflects diminished expectations for ending the Iranian blockade by the end of the summer, with a sharp decline in "yes" probabilities.
Oil Rallies as Iran Halts Strait of Hormuz Shipping
Oil prices climbed after Iran said it is stopping ships in the Strait of Hormuz, a chokepoint that carries about one-fifth of the world's oil shipments, a separate report said. Prediction-market pricing pointed to expectations that WTI crude could reach higher levels, though probabilities for the contract hitting $130 in July remained low, the report said. The geopolitical tension, as described by Reuters, appeared supportive of scenarios in which prices might reach new all-time highs, with pricing showing some consistency with that outcome.
Sources: Investing.com, Crypto Briefing
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