Global leaders work to ease oil price surge as Trump signals more weeks of Iran war

[0:00] Today in New York and London, leaders from European and Middle Eastern countries worked [0:04] to develop a plan to try and reopen the Strait of Hormuz, which has been largely closed since [0:10] the war in Iran began. [0:11] And after President Trump's speech last night predicting two to three more weeks of war, [0:16] the U.S. and Israel continued to bomb Iran today, and Iran continued its strikes on Gulf [0:22] countries and in Israel. [0:23] Here's Nick Schifrin. [0:25] Outside Tel Aviv tonight, the threat is constant. [0:30] The Iranian missile evaded Israeli air defense, shattering car windshields and puncturing [0:37] this water pipeline. [0:39] It shows how, despite one month of war across Israel and the Gulf, Iran still can project [0:44] power and display defiance. [0:46] Spokesman Elias Hazrati. [0:49] Our missile capabilities are growing stronger day by day. [0:52] Moreover, the Strait of Hormuz is in the hands of Iran's powerful forces. [0:58] Iran's assault on oil vessels and other energy targets in and along the Strait [1:02] has been a major threat to the country. [1:03] It has led to a staggering decline of traffic in what was one of the world's most important [1:07] oil and natural gas choke points. [1:10] Before the war, the number of cargo ships going through the Strait of Hormuz in either [1:14] direction averaged more than 100 per day. [1:17] One month ago, at the start of the war, that number dropped off a cliff, and only handfuls [1:21] of boats that Iran chooses are now transiting. [1:25] We have seen Iran hijack an international shipping route to hold the global economy [1:31] hostage. [1:32] Today, a group of Americans and a group of people from the United States have been in [1:33] the Strait of Hormuz for more than a decade. [1:33] More than 40 countries, led by British Foreign Minister Yvette Cooper, coordinated plans [1:37] to reopen the Strait after the war ends. [1:40] This mostly European and Arab coalition, born from behind-the-scenes diplomacy with the [1:45] U.S., but also because European leaders realized a program to sell American weapons for Ukraine [1:51] was at threat if Europe didn't respond to President Trump's demand to help open the [1:56] Strait. [1:57] We are focusing on the effective coordination that we need across the world to enable a [2:02] safe and sustained opening of the Strait. [2:05] Conflicts do not end on their own. [2:09] They end when leaders choose dialogue over destruction. [2:13] In New York, at the United Nations, diplomats met at the Security Council to debate a draft [2:18] resolution aimed at authorizing a military mission to protect commercial shipping in [2:23] and around the Strait of Hormuz from Iranian attacks. [2:26] A final vote is expected tomorrow, but a senior official from a country on the Security Council [2:31] tells PBS NewsHour, [2:33] Russia could issue a veto. [2:34] We are confident that this draft resolution is consistent with international law, contrary [2:40] to what Iran is doing today. [2:41] NICK SCHIFRIN, But some European leaders are skeptical of that plan and frustrated [2:46] with President Trump. [2:48] Today French President Emmanuel Macron accused President Trump of weakening NATO. [2:52] Quote, if you create doubt every day about your commitment, you hollow it out. [2:57] And when we're serious, we don't say the opposite of what we said the day before. [3:01] EMMANUEL MACRON, French President of the United States, When this conflict is over, this will be over. [3:02] NICK SCHIFRIN, French President of the United States, When this conflict is over, this will be over. [3:03] EMMANUEL MACRON, French President of the United States, When this conflict is over, this will be over. [3:03] NICK SCHIFRIN, French President of the United States, When this conflict is over, this will be over. [3:04] The strait will open up naturally. [3:06] It will just open up naturally. [3:08] NICK SCHIFRIN, French President of the United States, Last night, President Trump argued that Iran's desire to sell oil will mean the problem with the Strait of Hormuz will solve itself. [3:14] But President Trump also expressed a desire to escalate, today posting this video of a U.S. strike on a bridge that a U.S. official tells PBS NewsHour was a planned Iranian resupply route. [3:26] The view from a nearby family picnicking during the attack, terrifying. [3:39] And Iran's foreign ministry also posted these videos. [3:41] NICK SCHIFRIN, French President of the United States, When this conflict is over, this will be over. [3:41] EMMANUEL MACRON, French President of the United States, When this conflict is over, this will be over. [3:42] NICK SCHIFRIN, French President of the United States, When this conflict is over, this will be over. [3:42] EMMANUEL MACRON, French President of the United States, When this conflict is over, this will be over. [3:43] We're going to hit them extremely hard over the next two to three weeks. [3:57] We're going to bring them back to the Stone Ages, where they belong. [4:02] In the meantime, discussions are ongoing. [4:04] Yet, if, during this period of time, no deal is made, we have our eyes on key targets. [4:10] If there is no deal, we are going to end it. [4:11] We are going to hit each and every one of their electric generating plants very hard [4:16] and probably simultaneously. [4:18] NICK SCHIFRIN, French President of the United States, The markets didn't like that message [4:21] opening down, and Brent crude prices spiked. [4:25] Traders apparently disappointed that the president didn't signal the end of the war. [4:31] And the war continues to reverberate, massive U.S. airstrikes in central Iran. [4:37] In Isfahan province, a critical hub for its nuclear program clouded in apocalyptic smoke, [4:43] as the U.S. targets ammunition depots. [4:46] The president vows to continue the war for another two to three weeks. [4:50] For the PBS NewsHour, I'm Nick Schifrin. [4:53] Support journalism you trust. [4:55] Support PBS News. [4:58] Donate now, or even better, start a monthly contribution today.