Updated

President Trump rejected a conditional ceasefire proposal from Iran, according to the Wall Street Journal, with expectations that U.S. military action against Iran could resume after the midterm elections. Separately, Saudi-backed coalition forces intercepted projectiles, reflecting continued volatility in the region. The development is the latest chapter in the ongoing Iran nuclear standoff and broader Strait of Hormuz tensions that have kept energy markets on edge amid fears of supply disruption from the Gulf.