BlockBeats News, May 26th, the US Central Command stated that US and Israeli fighter jets attacked multiple Iranian ships in the Strait of Hormuz. Earlier, Trump had mentioned that negotiations were progressing on a temporary agreement with Tehran. The resurging conflict highlights the fragility of the US-Iran ceasefire agreement.

During early Asia trading on Tuesday, S&P 500 futures declined following the latest developments, WTI crude oil prices saw a slight increase, and gold fluctuated after a minor drop. Trump is currently facing pressure from the US domestic hardliners towards Iran, such as Republican Senator Graham, who believe that the emerging agreement concedes too much to Tehran. (FXStreet)