<div id="readability-page-1">  <p><time datetime="2026-05-20T06:30:00+01:00">    Wednesday 20 May 2026 6:30 am  </time>      <span> | </span><span> Updated: </span>   <time datetime="2026-05-20T06:31:25+01:00">    Wednesday 20 May 2026 6:31 am  </time></p>         <div>                                                                                                                 Add as a preferred        source on Google                        </div>    <figure>    <div>       </div> <img width="742" height="495" src="https://imageproxy.pbkrs.com/https://www.cityam.com/wp-content/uploads/2026/04/trumpgreentie.jpeg/query-dz03NDI?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://www.cityam.com/wp-content/uploads/2026/04/trumpgreentie.jpeg/query-dz03NDI"/>  <figcaption>Trump has returned to strike threats on Iran.</figcaption> </figure> <p>Good morning and welcome back to the <strong><em>City </em></strong><em>AM </em>liveblog.</p><p>Markets are assessing the latest impact of Donald Trump’s renewed threat to resume military action on Iran, which has left oil prices near $111 a barrel.</p><p>The President has said the US was around “an hour away” from military action on Iran but has also doubled down that it could be “two or three days” until this action takes place if a deal is not made.</p><p>“A limited period of time, because we can’t let them have a nuclear weapon,” he said.</p><p>In a separate event at the annual Congressional Picnic, Trump insisted Tehran “wants to make a deal so bad”.</p><p>He echoed a sentiment reiterated throughout the conflict, claiming it was “going to happen fast,” adding: “You’re going to see oil prices plummet, they’re going to come down.”</p><p>The war has now entered its 12th week with all transport through the all-important Strait of Hormuz coming to a halt, choking around a fifth of global oil supplies. </p><p>Vice President JD Vance gave a media briefing at the White House where the US warned of “option B”  if a deal fails to be reached.</p><p>He said the US was “locked and loaded,” before adding: “We don’t want to go down that pathway but the president is willing and able to if we have to.”</p><p>We’ll be bringing you the latest on this and all the top corporate news of the morning.</p><h3 id="h-here-s-a-few-of-our-top-headlines-this-morning">Here’s a few of our top headlines this morning</h3><ul> <li>Treasury sparks uproar with push to cap supermarket food prices</li>    <li>Brits set for sharp rise in energy bills in July</li>    <li>Deloitte set to boost UK staff bonuses and promotions</li>    <li>Deutsche Bank hit with six-figure fine in UK for breaching Russia sanctions</li>    <li>MP calls on government to mandate for free-to-air Champions League final</li> </ul> </div>

<p>Markets are reacting to Donald Trump's renewed threats of military action against Iran, keeping oil prices near $111 a barrel. Trump indicated that the US could act within hours if a deal isn't reached, while Vice President JD Vance warned of 'option B' if negotiations fail. The ongoing conflict has halted transport through the Strait of Hormuz, affecting global oil supplies. Other news includes potential caps on supermarket food prices and rising energy bills in the UK.</p>

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FTSE 100 Live: Stocks to fall, oil holds firm as US warns of ‘Option B’