(Il Sole 24 Ore Radiocor) - Milano, 30 mar - US shares were trading higher at midday after sharp losses Friday as investors kept a close eye on developments in the Iran war as it enters its second month.

Hopes of a speedy cease-fire have receded as Washington sends more troops to the Middle East and Yemen's Houthi rebels join in hostilities.

President Donald Trump told the Financial Times today the US could take over Iran's oil production while a media report said he was considering a military operation to extract Iran's uranium.

Earlier today Trump threatened to 'completely' obliterate Iran's electric generating plants, oil wells and Kharg Island if the Strait of Hormuz was not 'immediately' reopened and a peace deal reached.

Oil prices crept higher, with the price of WTI close to 102 dollars per barrel.

Bets have been rising that the Federal Reserve will hold steady on interest rates for longer than expected due to growing concerns over inflationary pressure triggered by the war.

At 1513 GMT, the Dow Jones was up 339.45 points, or 0.75%, at 45,506.09 points.

The S&P 500 was 27.06 points, or 0.42%, higher at 6,395.91 points.

The Nasdaq was gaining 33.87 points, or 0.16%, at 20,982.23.

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(RADIOCOR) 30-03-26 17:22:53 (0468) 5 NNNN