Iran war "re-escalation risks" hike oil prices after latest Trump threat
Tensions between the U.S. and Iran have escalated as President Trump issued a warning for Iran to accept a peace deal. Oil prices have surged amid fears of re-escalation in the ongoing conflict. Iran has communicated revised terms for a potential agreement, but discussions regarding nuclear matters remain absent.
- ▪President Trump warned Iran that the 'Clock is Ticking' for a peace agreement.
- ▪Oil prices rose significantly following Trump's latest threats against Iran.
- ▪Iran has conveyed revised terms for a peace deal to the U.S. through Pakistani mediators.
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Live Live Updates: Iran war "re-escalation risks," new Trump threat drive up oil prices as diplomacy staggers on By Tucker Reals Tucker Reals Editor Tucker Reals is CBSNews.com's foreign editor, based in the CBS News London bureau. He has worked for CBS News since 2006, prior to which he worked for The Associated Press in Washington, D.C., and London. Read Full Bio Tucker Reals May 18, 2026 / 6:31 AM EDT / CBS News Add CBS News on Google What to know about the Iran war today:Iran says it's conveyed another amended set of terms for a potential peace deal to the Trump administration via Pakistani mediators.
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