The ongoing Iran war raises concerns about its long-term global economic impact, particularly regarding the critical Strait of Hormuz, with Iran stating the situation 'will not return to the past' and clarifying that 'non-hostile vessels' can pass through. NATO Secretary General Mark Rutte has promised assistance to the US for opening the Strait of Hormuz, a move that has reportedly caused annoyance in several European capitals, while France has also offered to help secure routes.

Iran has rejected a US ceasefire proposal and dismissed claims of ongoing negotiations, dampening hopes for de-escalation, though markets like the S&P 500 still reacted positively to initial hopes for peace talks, with oil prices falling.