Iran war "re-escalation risks" hike oil prices after latest Trump threat

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. Tehran says it is focused entirely on an agreement to end the war and has not yet "discussed any details regarding nuclear matters."President Trump warned Sunday that "the Clock is Ticking" for Iran to accept a peace agreement, and "there won't be anything left of them" if the Islamic Republic's leaders don't "get moving, FAST." Oil prices took another upturn and stocks were widely down Monday as market analysts said, "if anything, re-escalation risks are increasing" in the 80-day war in the Middle East. New Updates   2m ago Stocks slump, oil prices jump again as markets fear Iran war "re-escalation risks are increasing" World shares mostly retreated and oil prices jumped Monday after President Trump warned Tehran the "clock is ticking" for a peace deal.U.S. futures fell and markets in Japan and South Korea pulled back from their records. In early European trading, Britain's FTSE 100 edged up 0.1% to 10,205.31. France's CAC 40 lost 0.9% to 7,883.42, and Germany's DAX dropped 0.1% to 23,925.82.During Asian trading, Tokyo's Nikkei 225 fell 1% to 60,815.95, a decline led by technology-related stocks. It reached all-time intraday high levels last week above 63,000.Seoul's Kospi climbed 0.3% to 7,516.04 after trading lower earlier in the day. It crossed the 8,000 mark for the first time on Friday, supported by buying of technology shares driven by the boom in...