Morning Briefing Europe

US and Iran Trade Fire in Gulf, Shaking Four-Week old Ceasefire

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Oil tankers offshore in the Strait of Hormuz off Bandar Abbas, Iran on May 2.Photographer: Amirhosein Khorgooi/ISNA/AP Photo

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By Gabrielle Ng and Abhishek Shanker

May 5, 2026 at 5:36 AM UTC

Good morning. The US and Iran trade fire. HSBC’s earnings miss estimates. And the European Union and Anthropic discuss Mythos. Listen to the day’s top stories.

The US and Iran exchanged fire in the Persian Gulf on Monday, prompting calls for renewed strikes on Iranian targets and jolting a fragile four-week-old ceasefire. American warships escorted two US-flagged vessels through Hormuz, while the United Arab Emirates blamed an Iranian drone strike for a large fire at its Fujairah port.