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U.S. and Iran trade new strikes as oil prices rise in response to renewed fighting · THE DAILY BRIEF

• 0:00
  Speaker 1: The US and Iran are trading yet more strikes. After
• 0:03
  Speaker 1: President Trump said the ceasefire is over. US Central Command
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  Speaker 1: says it hit about ninety targets inside Iran that includes
• 0:10
  Speaker 1: missile storage sites and air defense systems. This is the
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  Speaker 1: second consecutive night of attacks. And there you're hearing sirens
• 0:22
  Speaker 1: from overnight that was heard across the Middle East as
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  Speaker 1: Iran hit back. Tran says it targeted US bases in Kuwait, Bahrain,
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  Speaker 1: and cutter Now, despite all this, President Trump insists Iran
• 0:33
  Speaker 1: wants to talk. Listen to what he had to say
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  Speaker 1: on his way home from the NATO summit overnight.
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  Speaker 2: Hey have very little, yeah, very little left. And they
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  Speaker 2: want to make a deal so madly. They called a
• 0:44
  Speaker 2: little while ago. They want to make a deal so badly.
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  Speaker 2: I just don't know if they're worthy of making it. You,
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  Speaker 2: I don't know that they're going to honor their dealer.
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  Speaker 1: And on the way home from the NATO Summit, President
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  Speaker 1: Trump flew out of Turkey on the old Air Force
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  Speaker 1: one instead of the new Katari gifted plane that he
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  Speaker 1: arrived in. We'll dig into why that took place in
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  Speaker 1: just a few minutes with Olivia Ronaldi so stay close
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  Speaker 1: for that. But first let's jump to CBS News Feign
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  Speaker 1: correspond at Ramy and Osensio joining us from our London
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  Speaker 1: bureau with more on the bigger picture. Good morning, Raimi,
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  Speaker 1: tell us more about these US strikes on Iranian targets
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  Speaker 1: and the response.
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  Speaker 3: Absolutely, Aerol, Good morning.
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  Speaker 4: Well, you know, last night President Trump said that if
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  Speaker 4: the US struck again, it will get much worse. And
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  Speaker 4: then about half an hour or so right after that,
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  Speaker 4: we started getting reports from Iran of explosions in various
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  Speaker 4: parts of the country, some coming out of the southeast
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  Speaker 4: in airports and a port city on the Strait of Hormuz,
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  Speaker 4: and then in the northeast a railway bridge that's crucial
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  Speaker 4: because it connects Iran to Russia as well as to China.
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  Speaker 4: And then a couple hours later we got the other
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  Speaker 4: news that you mentioned. Iran's retaliation started that was against
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  Speaker 4: American military assets in Bahrain, kuwaita and Cutter. They sounded
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  Speaker 4: air raid sirens, warned of rockets and drones, and Iran
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  Speaker 4: later said that targeted two US spaces in Kuwait, including
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  Speaker 4: Patriot missile systems, and two bases in Bahrain, including a
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  Speaker 4: fuel storage site.
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  Speaker 3: And if that wasn't all.
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  Speaker 4: Actually, in just the past couple hours Earl Iran reported
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  Speaker 4: several more explosions, but in another part of the country
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  Speaker 4: in Buscher Province. This is important because of the home
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  Speaker 4: of Iran's only nuclear power plant. And as this is
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  Speaker 4: all happening, remember this is against the backdrop of the
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  Speaker 4: final day of the funeral of the late Supreme Leader
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  Speaker 4: Ietola la Remene, who was assassinated back on February twenty
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  Speaker 4: eighth in the US.
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  Speaker 3: Is really strike then, so a lot of things happening here.
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  Speaker 4: This morning, Sentcom issued a statement saying that it hit
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  Speaker 4: more than ninety targets in Iran, on top of the
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  Speaker 4: more than eighty just the day before. Same thing as
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  Speaker 4: Air Defense systems coastal surveillance sites Iran. For its part,
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  Speaker 4: the Health Ministry said that people have been killed and
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  Speaker 4: people have died. More than a dozen killed here and
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  Speaker 4: nearly eighty people have been injured.
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  Speaker 1: And at about this time yesterday, Raimi, you was saying,
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  Speaker 1: I think Brent crude prices had jumped five percent. How
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  Speaker 1: is this continued fighting impacted oil prices? Considering the straight
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  Speaker 1: up for MOOS, isn't seeing traffic?
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  Speaker 2: Yeah?
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  Speaker 4: Absolutely, and just looking at the price of Brent crude
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  Speaker 4: right now, it is almost at seventy nine bucks a barrel,
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  Speaker 4: still rising this morning because of this second day of strikes.
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  Speaker 3: To compare this to two.
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  Speaker 4: Days ago, before all this back and forth happened, it
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  Speaker 4: was at seventy two bucks. But see look on the
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  Speaker 4: right hand side of your screen. There we're pipping over
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  Speaker 4: seventy bucks a barrel, which is what we saw just yesterday.
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  Speaker 4: And we had been at pretty much low around June
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  Speaker 4: twenty third onwards over the past few weeks, hitting as
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  Speaker 4: low as seventy two bucks, but again rising back up.
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  Speaker 4: I spoke with one of the world's really top energy experts,
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  Speaker 4: doctor Amrita Sen at Energy Aspects, just a couple hours ago,
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  Speaker 4: and she told me if the straight over moves closes
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  Speaker 4: down again, worst case scenario here for a month or
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  Speaker 4: more than we should expect, oil could jump to ninety bucks,
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  Speaker 4: maybe even one hundred bucks a barrel.
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  Speaker 5: Here's more, we're not expecting things to go back to
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  Speaker 5: March April. Yeah, March April levels, I would say, that's
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  Speaker 5: really when everything was frozen, very little was moving. But
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  Speaker 5: since then US Navy has been escorting ships and We've
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  Speaker 5: also seen some of the other countries in the region, Ua,
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  Speaker 5: for instance, with their own naval fleet, do a lot
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  Speaker 5: of dark transits. So what that means is that these
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  Speaker 5: ships switch off their ais and then they're transiting oil.
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  Speaker 4: If the Strait of Horror moves closes again, worst case scenario.
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  Speaker 3: But what is your expectation for the price of oil.
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  Speaker 5: When we started the conflict, we had a good buffer. Basically,
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  Speaker 5: we built up a lot of infantries last year and
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  Speaker 5: in the first quarter, so we had about you know,
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  Speaker 5: four hundred million barrels give or take of inventories that
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  Speaker 5: we could have run down. We've done that. Now we've
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  Speaker 5: even depleted. You know, in the US, the strategic petroleum
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  Speaker 5: Reserve is at its lowest ever. Really, overall, US crewde
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  Speaker 5: oil stocks are at them lowest since nineteen eighty five,
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  Speaker 5: and US refining is four and a half million barrels
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  Speaker 5: pit higher than then. So you can imagine just overall, right,
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  Speaker 5: governments have stepped in to help US, as Japan has europassed,
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  Speaker 5: but we can't ignore the fact that stocks everywhere are very,
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  Speaker 5: very low. So you just do not have that buffer anymore.
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  Speaker 4: Yeah, and she pointed out that the price of US
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  Speaker 4: gas rose overnight three bucks eighty four for the average
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  Speaker 4: gallon regular, and she said don't expect to see it
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  Speaker 4: fall below three bucks a gallon into next year.
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  Speaker 3: Basically that Big Three get used to it all.
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  Speaker 1: Right in Assensia. With that comprehensive update in London, maybe
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  Speaker 1: thanks