Trump unleashes midnight strikes on crucial Iran oil port as officials frantically insist ceasefire is holding

By ELINA SHIRAZI, US SENIOR POLITICAL REPORTER Published: 22:16, 7 May 2026 | Updated: 22:25, 7 May 2026 Explosions have rocked Qeshm Island in the strategically vital Strait of Hormuz on Thursday, with Iranian state television confirming the blasts erupted amid an active 'exchange of fire.'  'The explosions at the Bahman pier on Qeshm Island occurred during an exchange of fire between Iranian armed forces and the enemy,' an anchor with state TV reported in Farsi. Fox News is reporting that airstrikes are also happening in port city Bandar Abbas in Iran. US officials tell the network that they don't believe this is a 'restarting of the war' or an 'end to the ceasefire.' But Iran's top joint military command says that the United States carried out air attacks on 'civilian areas' with the 'cooperation of some regional countries.' This comes as President Trump sent a one-page memo with concessions to try and secure a permanent peace deal. That memo would lift US sanctions, free billions in frozen assets and open a path to uranium enrichment. The 14-point memorandum of understanding is being negotiated between senior Iranian officials and Trump envoys Steve Witkoff and Jared Kushner. The White House believes the memo could finalize a framework to end the war within 48 hours. If signed, a 30-day window would open for both countries to negotiate a larger agreement covering the reopening of the Strait of Hormuz, the lifting of all US sanctions on Iran, and new limits on its nuclear program. The deal calls for Iran to halt all uranium enrichment for 12 to 15 years with automatic extensions if Tehran violates the terms, according to Axios. Another key provision would have the regime remove its highly enriched uranium stockpile from the country, though the memo does not specify a destination The deal, if signed, would formally end the war and open a 30-day window for both countries to negotiate a larger agreement covering the reopening of the Strait of Hormuz, the lifting of all US sanctions on Iran, and new limits on its nuclear program If signed, the memo would formally end the war and open a 30-day window for both countries to negotiate a larger agreement covering the reopening of the Strait of Hormuz Trump has been at pains to avoid anything resembling the 2015 Obama deal he spent years trashing as the 'worst deal ever' Ships and boats in the Strait of Hormuz, Musandam, Oman, on Monday Trump's latest proposal to Iran includes some key elements that are similar to the nuclear deal secured by Barack Obama which the President got rid of in his first term Another key provision would have the regime remove its highly enriched uranium stockpile from the country, though the memo does not specify a destination. Trump has been at pains to avoid anything resembling the 2015 Obama deal he spent years trashing as the 'worst deal ever.' But the emerging framework echoes it in striking ways: sanctions lifted, frozen billions released and Iran capped at the same 3.67 percent enrichment level agreed to by Obama. Oil prices plunged on news of the proposed deal with Brent crude, the global benchmark, falling by more than 10 percent to below $100 per barrel. Stock futures tied to the Dow rose 1.1 percent, S&P 500 futures surged 0.9 percent, while Nasdaq futures climbed 1.6 percent. Behind the scenes, Israel is already lining up fresh strikes on Iran should the deal collapse, with senior Iranian officials and the country's energy infrastructure squarely in the crosshairs, an Israeli source told CNN. The bombardments had been ready for execution on the eve of the ceasefire agreed in early April and were accelerated again this week after Iranian missiles were fired toward the United Arab Emirates on Monday. Prime Minister Benjamin Netanyahu, wary of Tehran's peace overtures from the outset, is said to favor 'a short campaign aimed at pressuring Iran into further concessions in negotiations,' the source added. The comments below have not been moderated. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. By posting your comment you agree to our house rules. Do you want to automatically post your MailOnline comments to your Facebook Timeline? Your comment will be posted to MailOnline as usual. Do you want to automatically post your MailOnline comments to your Facebook Timeline? Your comment will be posted to MailOnline as usual We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. To do this we will link your MailOnline account with your Facebook account. We’ll ask you to confirm this for your first post to Facebook. You can choose on each post whether you would like it to be posted to Facebook. Your details from Facebook will be used to provide you with tailored content, marketing and ads in line with our Privacy Policy.