From deal hopes to fresh strikes

Weekend hopes for a U.S.-Iran breakthrough fade after fresh American strikes on southern Iran, though markets are treating the move as a possible push toward agreement rather than escalation. Oil is up around 2% Tuesday, reversing only part of Monday's losses. Plus, fresh U.S. consumer confidence data is out today - with high fuel prices expected to have hit hard.

Today’s recommended read: China's weak steel output, strong iron ore imports show structural shift, Clyde Russell

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