The U.S. and Iran exchange fire for a second day with President Trump threatening to increase the intensity of airstrikes. Kuwait and Bahrain suffer retaliatory attacks on U.S. bases while Qatar upgrades its security alertness. Speaking at the NATO summit, President Trump tells CNBC the conflict will not escalate into all-out war, insisting Washington’s objective is to prevent Tehran obtaining a nuclear weapon. Despite Trump’s declaration the MOU with Iran is over, markets remain sanguine. However, Brent nudges closer towards the $80-mark.<br>See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. and Iran trade strikes for second day

Squawk Box Europe Express

The CNBC app, global market news in one place. Customizable sections and personalized alerts, stocks tracking, interactive charts and market insights all in your hands. Stay connected, stay informed. Download the CNBC app today. Welcome to Squawk Box Europe. I'm Karen Cho with Ian King. These are your headlines. The U.S. and Iran exchange strikes for a second day,

with President Trump threatening to hit them hard. Kuwait and Bahrain reporting retaliatory attacks on U.S. bases, while Qatar issues a heightened security alert. President Trump dismisses the risks of returning to a full-blown conflict with Iran, telling Steve at the NATO summit, Washington's main objective is to prevent Iran building a nuclear weapon. Are we on the cusp of a full-scale return to full conflict? I'll tell you what happens next.

We're never going to see Iran have a nuclear weapon, because that's much more important than the numbers you're talking about. Stock markets show some composure following Wednesday's volatility and Trump's declaration that the Iran ceasefire deal is over. But Brent prices are still

edging towards the $80 a barrel mark. No doubt an eventful day yesterday, whether we saw the resumption of war, whether it was just ripping up the memorandum of agreement, whether we now have a bumpy road and

we get back to some sort of peaceful approach from here. It felt as though oil markets reacted very quickly with the ask questions later type of psychology. Yeah, absolutely. I mean, it was quite astonishing, wasn't it, watching the oil price reacting in real time to those comments from Trump yesterday, around this time yesterday, of course. What I think is interesting, though, is that overnight markets have been quite, you know, they have not shown equity markets, certainly. I mean, obviously,

U.S. and Iran trade strikes for second day

Read the full transcript

The candid version is on a podcast,
not the earnings call.

U.S. and Iran trade strikes for second day

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.