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Oil prices declined on Tuesday, retreating from sharp gains in the previous session.
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The ceasefire in the Middle East was in peril Tuesday after the United States and Iran traded fire and threats over President Donald Trump's new mission to force open the Strait of Hormuz.
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The defense secretary says the ceasefire holds despite Iranian attacks on U.S. forces. He said the U.S. would call on allies to take over the mission to reopen the waterway.
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The US and Iran's determination to keep the pressure on each other has put the fragile Gulf ceasefire in serious jeopardy.
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Iran's foreign minister warned the U.S. should be wary of being dragged into a "quagmire" after tensions flared in the Strait of Hormuz.
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Plus, the gowns — and the backlash — at the Met Gala.
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Authorities said search and rescue at a fireworks plant in a central Chinese province has largely been completed, but verification of the casualties and identification of the victims are still underway.
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;Resize=(620)) Russian drone and missile strikes targeting Ukraine's power grid during the night killed at least five people and wounded 39 others, Ukrainian authorities said Tuesday, less than a day before Kyiv said it would enact a ceasefire and three days before Moscow promised its own truce.
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Russia demanded a ceasefire on 8 and 9 May but Ukraine said it would pause the fighting sooner, meaning any violations would be pinned on Moscow.
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Dozens more were injured in the explosion, which appeared to be one of the country's deadliest in recent years.
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The U.S. says it will guide ships through the Strait of Hormuz to break the deadlock.
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For the first time since the U.S.-Iranian cease-fire was reached in early April, the United Arab Emirates said four cruise missiles had been fired from Iran at its territory.
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Stock market indices fell, and oil prices rose after the reported attack on the United Arab Emirates by Iran, which came nearly a month into a ceasefire.
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