The US on Sunday launched its heaviest assault on Iran in weeks, while Tehran hit Gulf nations and announced the closure of the Strait of Hormuz.
American military bases in Jordan, Qatar, Kuwait, Bahrain, and Oman came under fire in retaliation for the US attacks on southern Iran.
Even as the US insisted the strait remained open, the flareup is set to weigh on energy and equity markets at the start of the week and raises questions about the future of peace talks, The Washington Post wrote.
US President Donald Trump said last week that the ceasefire was “over,” but regional mediators were still working Sunday to shore up the truce and lobby for de-escalation.