Strait

Outlines of a deal emerge with major concessions to Iran

Upbeat claims from President Trump over an imminent peace deal to end the war with Iran were met with deep skepticism Friday across the Middle East, where Iranian and Israeli officials questioned the prospects for a lasting agreement that would satisfy all parties.

The outlines of an agreement began to emerge that would provide Iran with a major strategic victory — and a potential financial windfall — allowing the Islamic Republic to leverage its control over the Strait of Hormuz to exact significant concessions from the United States and its ally Israel as Trump presses for a swift end to the conflict.

In a series of social media posts and interviews with reporters, Trump announced that the strait was “fully open,” vowing Tehran would never again attempt to control it. But Iranian officials and state media said that conditions remained on passage through the waterway, including the imposition of tolls and coordination with the Islamic Revolutionary Guard Corps.

Iranian diplomats posted threats that its closure could resume at any time of their choosing, and warned that restrictions would return unless the United States agreed to lift a blockade of its ports. Trump had said Friday that the blockade would remain in place.

“The conditional and limited reopening of a portion of the Strait of Hormuz is solely an Iranian initiative, one that creates responsibility and serves to test the firm commitments of the opposing side,” said a top aide to Iran’s president, dismissing Trump’s statements on the contours of a deal as “baseless.”

“If they renege on their promises,” he added, “they will face dire consequences.”

In an overture to Iran, Trump said Israel would be “prohibited” from conducting additional military strikes in Lebanon, where the Israeli government of Prime Minister Benjamin Netanyahu seeks to prevent Hezbollah, an Iranian proxy militia, from rearming, a potential threat to communities in the Israeli north.

But in a speech delivered in Hebrew, Netanyahu would say only that Israel had agreed to a temporary ceasefire, while members of his Cabinet warned that Israel Defense Forces operations in southern Lebanon were not yet finished. A top ally of the prime minister at a right-wing Israeli news outlet warned that Trump was “surrendering” to Iran in the talks.

It was a day of public messaging from a president eager to end a war that has proved historically unpopular with the American public, and has driven a rise in gas prices that could weigh on his party entering this year’s midterm elections.

Yet, Republican allies of the president have begun warning him that an agreement skewed heavily in Tehran’s favor could carry political costs of its own.

Trump was forced to deny an Axios report Friday that his negotiating team had offered to release $20 billion in frozen Iranian assets in exchange for Tehran agreeing to hand over its fissile material, buried under rubble from a U.S. bombing raid last year.

That sum would amount to more than 10 times what President Obama released to Iran under a 2015 nuclear deal, called the Joint Comprehensive Plan of Action, that was the subject of fierce Republican criticism in the decade since.

“I have every confidence that President Trump will not allow Iran to be enriched by tens of billions of dollars for holding the world hostage and creating mayhem in the region,” said Sen. Lindsey Graham (R-S.C.), a strong supporter of the war. “No JCPOAs on President Trump’s watch.”

Still, Trump said in a round of interviews that a deal could be reached in a matter of days, ending less than two weeks of negotiations.

He claimed that Tehran had agreed to permanently end its enrichment of uranium — a development that, if true, would mark a dramatic reversal for the Islamic Republic from decades developing its nuclear program, and from just 10 days ago, when Iranian diplomats rejected a U.S. proposal of a 20-year pause on domestic enrichment in favor of a five-year moratorium.

He said Iran had agreed never to build nuclear weapons — a pledge Tehran has made repeatedly, including under the Nuclear Nonproliferation Treaty, in a religious decree from then-Supreme Leader Ayatollah Ali Khamenei, and in the 2015 agreement — while continuing nuclear activities viewed by the international community as exceeding civilian needs.

And he repeatedly stated that Iran had agreed to the removal of its enriched uranium from the country, either to the United States or to a third party. Iranian state media stated Friday afternoon that a proposal to remove the country’s highly enriched uranium had been “rejected.”

Iran’s agreement to allow safe passage for commercial vessels through the Strait of Hormuz is linked to a ceasefire in Lebanon that the Israeli Cabinet approved for only a 10-day period. Regardless of whether it holds or is extended, Israeli officials said their military would not retreat from its current positions in southern Lebanon — opening up Israeli forces to potential attack by Hezbollah militants unbound by a truce brokered by the Lebanese government.

The Lebanese people, Hezbollah officials said, have “the right to resist” Israeli occupation of their land. Whether the fighting resumes, the group added, “will be determined based on how developments unfold.”

An Iranian official threw cold water on the prospects of reaching a comprehensive peace deal in the coming days, telling Reuters that a temporary extension of the current ceasefire, set to expire Tuesday, would “create space for more talks on lifting sanctions on Iran and securing compensation for war damages.”

“In exchange, Iran will provide assurances to the international community about the peaceful nature of its nuclear program,” the official said, adding that “any other narrative about the ongoing talks is a misrepresentation of the situation.”

Trump told reporters Friday that the talks will continue through the weekend.

While Trump claimed there aren’t “too many significant differences” remaining, he said the United States would continue the blockade until negotiations are finalized and formalized.

“When the agreement is signed, the blockade ends,” the president told reporters in Phoenix.

Times staff writer Ana Ceballos contributed to this report.

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World reacts to Strait of Hormuz reopening amid US-Iran conflict | US-Israel war on Iran News

Iran’s Foreign Minister Abbas Araghchi and United States President Donald Trump have said that the Strait of Hormuz is open to commercial vessels.

Araghchi declared on Friday that the strategic waterwat was “completely open” in line with the ceasefire between Israel and Lebanon that took effect the previous day.

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Trump affirmed on social media that the strait was open, later claiming that Iran had agreed to “never close the Strait of Hormuz again”. However, he also posted that the US naval blockade on Iranian ports would “remain in full force”.

In parallel, France and the United Kingdom hosted a meeting in Paris involving about 40 countries, which agreed to play a role in restoring freedom of navigation in the Strait of Hormuz once the US-Israeli war on Iran stops.

The blocking of tankers from using the strait, through which about 20 percent of the world’s crude flows on a typical day, has led to a global surge in fuel prices.

World leaders have welcomed the news with cautious optimism amid mixed messages from the US and Iran:

United States

“The Strait of Hormuz is completely open and ready for business and full passage, but the naval blockade will remain in full force and effect as it pertains to Iran, only, until such time as our transaction with Iran is 100% complete,” Trump wrote on Truth Social.

Minutes later, he issued another post saying the US Navy’s blockade on Iranian ships and ports “will remain in full force” until Tehran reaches a deal with the US, including on its nuclear programme.

Later, Trump told the news agency AFP that a deal to end the war on Iran was “close”, saying there were “no sticking points” left between Washington and Tehran.

Iran

Foreign Minister Abbas Araghchi posted on X that the strait was “declared completely open” and would remain open for the remaining period of the 10-day Israel-Lebanon ceasefire, which took effect overnight Thursday into Friday.

Some Iranian state media reports later appeared to contradict Araghchi’s announcement, with a senior military official telling state media that only nonmilitary vessels would be allowed to transit with permission from the Iranian Islamic Revolutionary Guard Corps (IRGC) Navy.

The Fars news agency, which is close to the IRGC, noted a “strange silence from the Supreme National Security Council”, the de facto top decision-making body in the country, as the status of the new supreme leader, Mojtaba Khamenei, remains unknown.

United Kingdom

UK Prime Minister Keir Starmer cohosted a summit on a potential military mission to secure the Hormuz Strait with French President Emmanuel Macron in Paris on Friday, with about 30 to 40 countries participating in person or by video conference.

On the sidelines, Starmer cautiously welcomed news of the strait’s reopening but said it must become “both lasting and a workable proposal”.

He said the UK and France would lead a “strictly peaceful and defensive” multinational mission to protect freedom of navigation as soon as conditions allow.

France

Speaking after the gathering, Macron said, “We all demand the full, immediate and unconditional reopening of the Strait of Hormuz by all parties.”

“We all oppose any restrictions or system of agreements that would, in effect, amount to an attempt to ⁠privatise the strait – and, of course, any toll system,” he added.

Macron’s office said roles for members of the international coalition working to reopen the strait could include “intelligence, mine-clearing capabilities, military escorts [and] communication procedures with coastal states”.

Germany

Chancellor Friedrich Merz said Germany could contribute mine clearance and intelligence capabilities to the international mission, but would need parliamentary support and a ″secure legal basis″ such as a UN Security Council resolution.

He said he wanted US involvement in the international mission to secure shipping through the Strait of Hormuz. “We believe this would be desirable,″ he said.

Trump later appeared to rebuff his overtures, saying on social media that he had received a call from NATO, but declined its assistance in no uncertain terms.

Finland

Finnish President Alexander Stubb, who participated in the Paris summit, said on X, “We welcome Iran’s announcement on opening the Strait. Lasting solutions require diplomacy,”

United Nations

United Nations Secretary-General Antonio ⁠Guterres on ⁠Friday welcomed the opening ‌of Strait of Hormuz by Iran ⁠and said ⁠it was “a ⁠step in the ⁠right ⁠direction”.

International Maritime Organisation

Arsenio Dominguez, secretary-general of the UN shipping agency said, “We are currently verifying the recent announcement related to the reopening of the Strait of Hormuz, in terms of its compliance with freedom of navigation for all merchant vessels and secure ‌passage.”

Shipping companies

The Norwegian Shipowners’ Association said several things had to be clarified before any ships can transit the strait, including the presence of mines, Iranian conditions and practical implementation.

“If this represents a step towards an opening, it is a welcome development,” said Knut Arild Hareide, CEO of the association, which represents 130 companies with some 1,500 vessels.

A spokesperson for Germany’s Hapag-Lloyd Shipping Company said, “We are now beginning to assess the new situation and the risks involved … For the time being, therefore, we are still refraining from passing through the strait.”

In a statement, Denmark’s Maersk said: “We have noted the announcement. The safety of our crew, vessels and customers’ cargo remains our priority. Since the outbreak of the conflict, we have followed the guidance of our security partners in the region, and the recommendation so far has been to avoid transiting the Strait of Hormuz.

“Any decision to transit the strait will be based on risk assessments and close monitoring of the security situation, with the latest developments also included in the ongoing assessments.”

Markets

Oil prices plunged after Iran’s announcement that passage for commercial vessels would remain “completely open” for the duration of a 10-day ceasefire in Lebanon.

“This news is having an immediate impact on markets,” said Kathleen Brooks, research director at XTB. “This is the biggest development so far during the ceasefire, and it gives hope that the war will end soon, and supply chains will return to some normality.”

 

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Iran foreign minister says Strait of Hormuz ‘completely open’ | US-Israel war on Iran News

Iran says ‘passage for all commercial vessels through Strait of Hormuz’ open during the Israel-Lebanon ceasefire.

The Strait of Hormuz is “completely open” for all commercial vessels and will remain so during the Israel-Lebanon ceasefire, Iran’s foreign minister has said.

“In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire,” Abbas Araghchi said in a post on X on Friday.

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A 10-day ceasefire was agreed between Israel and Lebanon late on Thursday.

The passage of ⁠vessels through the ⁠strait will be on the coordinated route as ⁠already announced by ⁠Ports and ⁠Maritime Organisation of Iran, Araghchi added.

United States President Donald Trump confirmed in a social media post that the strait was “completely open and ready for business and full passage”.

More to come…

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Ceasefire or escalation? Trump weighs Iran talks amid troop surge

With a fragile ceasefire set to expire with Iran in a matter of days, President Trump is still deciding between diplomacy and a resumption of fighting that may ultimately hinge on his definition of victory.

Negotiations have continued over the last week between the warring sides over a potential agreement that would end the conflict and curtail Iran’s nuclear ambitions, with interlocutors from Pakistan passing messages that have kept talks alive. Tehran has floated an extension of the two-week ceasefire, set to expire Tuesday, that is under active consideration by the American side.

But the Islamic Republic has simultaneously vowed retaliation over a new U.S. blockade of Iranian ports that in effect cut off Tehran’s oil sales, which make up nearly 85% of the country’s export revenue. And the Trump administration is deploying up to 10,000 additional troops to the region, on top of the 50,000 already there, both reinforcing the blockade and threatening ground operations if diplomacy fails.

Conflicting messages from the Trump administration are designed to escalate pressure on Tehran ahead of the ceasefire deadline, potentially extracting concessions at the negotiating table.

But speaking with reporters, Trump has made it clear he is seeking a way to end the war for good.

I think it’s close to over,” Trump told Fox Business Network’s “Mornings with Maria” on Wednesday. “I view it as very close to over. If I pulled up stakes right now, it would take them 20 years to rebuild that country. And we’re not finished. We’ll see what happens. I think they want to make a deal very badly.”

Negotiations toward that end have proved more challenging than the administration initially anticipated.

Trump has said he started the war in order to eliminate Iran’s nuclear infrastructure, degrade its ballistic missile and drone programs, and destroy its navy. But in talks, the Iranians have not relented on their right to enrich uranium, to maintain conventional defensive capabilities and to police traffic through the Strait of Hormuz, one of the world’s most vital waterways.

Tehran rejected a proposal by U.S. negotiators last week for a 20-year pause on Iran’s domestic enrichment of fissile material, with the Iranians countering with a five-year moratorium, one official said.

In his interview with Fox, Trump said the talks were going so well that an extension of the ceasefire might not be necessary. Yet, speaking with the New York Post, Trump suggested he wouldn’t settle for less than an indefinite cap on Iran’s nuclear work.

“I’ve been saying they can’t have nuclear weapons,” Trump said, “so I don’t like the 20 years.”

“I don’t want them to feel like they have a win,” he added.

The U.S. ceasefire with Iran was predicated on the resumption of free navigation through the Strait of Hormuz. But Iranian threats of a new toll system and warnings of drifting mines have limited traffic, prompting the Trump administration to announce a full blockade of the strait. Despite the U.S. threat, ships have continued transiting the passage this week, suggesting the U.S. blockade has focused more specifically on Iranian ports.

Amid the impasse, global oil prices remain stubbornly high — a concern for Republicans entering this year’s midterm election season. Trump told Fox that he expected prices to drop to prewar levels by the time of the vote in November.

“There’s gonna be a hit, but it’s going to recover, I think, fully,” Trump said. “I think that we will be somewhere around where we were — maybe even lower. And when this is over, I think the stock market is going to boom.”

A second round of high-level negotiations could take place in Islamabad, Pakistan, over the next several days, Karoline Leavitt, the White House press secretary, told reporters at a news briefing Wednesday.

Pakistani officials traveled to Tehran on Wednesday to deliver a message from the U.S. delegation, potentially laying the groundwork for new, in-person talks.

“He’s made his red lines in these negotiations very clear to the other side,” Leavitt said. “We feel good about the prospects of a deal.”

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Trump’s ‘Praise be to Allah’ posts? They’re just plain weird

Praise be to Allah.

For the second time in two weeks, President Trump used that phrase in a post about the Israel-U.S. war against Iran.

Crowing about the alleged destruction of Iran’s planes, ships and bases in a Truth Social post Saturday, he emphasized his greatest victory in the monthlong campaign: “Most importantly, their longtime ‘Leaders’ are no longer with us, praise be to Allah!”

Making sense of anything Trump says in the heat of posting is a fool’s errand, but it’s also entirely necessary. Sane wash his words we must, because no matter how unhinged or infantile, the world’s safety, fortunes and future are inextricably tied to America’s next move, and therefore to his next move.

So what is Trump trying to communicate, or provoke, by using the Arabic word for God, as Muslims do? Let’s translate.

The first and most likely explanation: “Praise be to Allah” was meant to disparage his adversaries in the Islamic Republic of Iran. They are Muslim, they refer to God as “Allah,” therefore, he will turn their phrasing against them. Word bombs to accompany the deadly ones falling in Iran and Lebanon.

All leaders deploy tough talk in times of war, but Trump’s posts read more like the feverish ramblings of mad Col. Kurtz (Marlon Brando) in “Apocalypse Now” — “You’re an errand boy sent by grocery clerks to collect a bill” — than Winston Churchill’s galvanizing call to arms against the Nazis, “We shall fight on the beaches…”

Unlike the fictional Kurtz or the real Churchill, Trump has no military experience. He avoided the Vietnam War draft with four student deferments and one medical deferment for bone spurs. An area where he is experienced? Baiting foes. Antagonizing enemies, genuine or imagined, is a Trump specialty, be it from the Oval Office, on the campaign trail, or in the before times, as a reality TV personality.

Painting Muslims as the Other is nothing new for Trump, (unless they come bearing luxury airliners as gifts — then they’re friends). The same goes for others in his party. Since the U.S. and Israel attacked Iran on Feb. 28, Rep. Andy Ogles (R-Tenn.) posted that Muslims don’t belong in American society. Rep. Randy Fine (R-Fla.) wrote, “We need more Islamophobia, not less. Fear of Islam is rational.” And Sen. Tommy Tuberville (R-Ala.) reposted an image of the Twin Towers burning side by side with an image of New York City Mayor Zohran Mamdani, with his own caption: “The enemy is inside the gates.”

The president’s first usage of “Praise be to Allah” as a middle finger to Iran landed on a Christian holy day, Easter Sunday. He posted a demand that Iran open the Strait of Hormuz: “Open the F— Strait, you crazy b—, or you’ll be living in Hell – JUST WATCH! Praise be to Allah.” Hardly messaging that brings to mind Easter egg hunts on the White House lawn.

If the idea was to humiliate Iran into submission, it’s not working. Iran doesn’t appear to be backing down, even after Trump’s week-ago threat that a “whole civilization will die tonight” if it failed to meet his deadline to reopen the strait. The critical global shipping route is still closed. Trump didn’t appear all that interested in the art of the deal, either, even as Vice President JD Vance tried and failed to negotiate with Iranian leaders in Pakistan on Saturday. The president told reporters that he didn’t “care” what happens with Iran negotiations because “regardless what happens, we win.” He also said, “Whether we make a deal or not makes no difference to me.” He was seen later in Miami at an Ultimate Fighting Championship cage match with Secretary of State Marco Rubio.

Making the Allah references all the stranger were Trump’s other religious-themed posts this past weekend. One was a lengthy screed against Pope Leo XIV, whom Trump described as too liberal and “weak on crime.” It’s worth noting that more than half of American Catholics voted for Trump in the last election, and that his vice president is Catholic, as is the secretary of State and the first lady.

The other was a stand-alone, AI-generated image of himself as a Christ-like figure. It showed the 79-year-old clad in a white robe and papal-red cape, a divine light emanating from the palm of one hand while the other hand was placed on an ailing man. The post was deleted Monday morning after a sizable backlash.

“I did post it, and I thought it was me as a doctor, and had to do with Red Cross, as a Red Cross worker there, which we support,” Trump said, responding to a reporter Monday during a presser at the White House as DoorDash delivered an order from McDonald’s to promote the president’s “no tax on tips” policy.

There was no mention of Allah during that particular event.

Alhamdulillah.

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No ships ‘make it past US blockade’ in Hormuz strait in first day: Pentagon | US-Israel war on Iran News

CENTCOM contradicts reports on ships breaking blockade as Trump says US-Iran talks could resume in the next two days.

The Pentagon says no ships “made it past” the United States military blockade in the Strait of Hormuz in its first 24 hours and six merchant ships followed orders to turn around.

The statement on Tuesday from the US military’s Central Command (CENTCOM) was the first update since US President Donald Trump announced the blockade of the waterway after US-Iran talks over the weekend in Pakistan failed to yield an agreement on ending the war the US and Israel launched on February 28.

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CENTCOM said the blockade applies only to vessels “entering and exiting Iranian ports” and other vessels remain free to transit the waterway.

It added: “US forces are supporting freedom of navigation for vessels transiting the Strait of Hormuz to and from non-Iranian ports.”

The Reuters news agency reported at least three vessels transited the strait during the first 24 hours of the blockade, citing shipping data. They included two tankers sanctioned by the US. The three ships were not heading to Iranian ports, according to Reuters.

However, the AFP news agency and several US media outlets, citing data from the maritime tracker Kpler, reported two ships had transited the waterway after leaving Iranian ports on Monday.

CENTCOM said 10,000 US sailors, Marines and airmen were involved in the operation, along with more than a dozen US warships and dozens of aircraft.

Military observers have widely said US forces have the capability to maintain the blockade for the foreseeable future but the continued pressure increases the likelihood of Iranian attacks. That in turn could see a two-week ceasefire that began on Wednesday collapse.

Meanwhile, any efforts to intercept vessels from strategic foes, including China, could create new escalations. The strategy is also likely to continue to roil global oil markets.

Iran has decried the US approach as “piracy” while Trump on Monday promised to “eliminate” any Iranian ships that seek to break the blockade.

Trump says more talks are possible

The update on Tuesday came as both sides signalled they would be open to further talks after failing to reach a breakthrough during 21 hours of negotiations between a US delegation led by Vice President JD Vance and an Iranian delegation led by parliamentary Speaker Mohammad Bagher Ghalibaf.

The talks were the highest-level face-to-face contact between the two countries since the 1979 Islamic revolution.

Key unresolved sticking points include control of the Strait of Hormuz, the future of Iran’s nuclear programme and whether the ceasefire extended to Israel’s ongoing invasion and bombardment of Lebanon.

In an interview with the New York Post newspaper on Tuesday, Trump said “something could be happening over the next two days” in Islamabad as he hailed Pakistani Field Marshal Asim Munir, who has been among the officials shepherding the negotiations.

Reporting from Tehran, Al Jazeera’s Ali Hashem said sources stated there are already messages being exchanged regarding what both sides consider to be “bridgeable issues”.

“Iran is open to talks, and it showed that from last week when it went to Islamabad. The main hurdle always is the mistrust, distrust between both sides,” Hashem said.

“For the Iranians, they’ve been repeating that they’re open. If the Americans want to fight, they’re going to fight. And if they want to talk, they can talk.”

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Who controls the Strait of Hormuz? | US-Israel war on Iran

A US move to block the strait has intensified a broader struggle over who controls access and under what terms.

Now, the United States is the one shutting the Strait of Hormuz, even as President Donald Trump was calling for it to reopen just a few days ago. He said ships entering or leaving Iranian ports would be stopped by the navy after talks between Tehran and Washington fell apart.

However, this is not just about a blockade. Iran is tightening its grip on the strait, demanding the right to impose tolls on ships passing through it.

The ripple effects could go beyond energy and trade flows, challenging the dominance of the US dollar in global shipping.

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UK Breaks with US on Iran Strategy, Refuses to Back Strait Blockade

Britain has publicly distanced itself from Washington’s escalating strategy against Iran, with Prime Minister Keir Starmer making clear that the UK will not support any blockade in the Gulf.

Speaking after the United States announced sweeping restrictions on Iranian shipping, Starmer emphasized that Britain’s priority is not enforcement but de-escalation. He stressed the importance of keeping vital trade routes open rather than contributing to further disruption.

What Starmer Said

Starmer’s message was direct. The UK will not be drawn into the conflict and will not support a blockade of the Strait of Hormuz.

Instead, Britain is focused on ensuring the strait remains open. While confirming the presence of British minesweepers in the region, he made clear their role is defensive and aimed at maintaining safe passage, not enforcing restrictions.

Contrast with Washington

The stance puts London at odds with the approach taken by Donald Trump.

The U.S., through United States Central Command, has announced a broad blockade targeting Iranian maritime traffic. Trump has gone further, warning that vessels linked to Iranian payments could be intercepted and threatening force against any resistance.

While Washington frames the move as pressure on Tehran, Britain is signaling concern about the wider consequences.

Why the Strait Matters

The Strait of Hormuz remains one of the most critical energy routes in the world. A significant share of global oil supply passes through it, meaning even partial disruption can send shockwaves through markets.

For the UK, keeping this route open is not just a regional issue but a global economic priority.

Implications: Cracks in Western Unity

Britain’s refusal highlights a growing divide among Western allies on how to handle the Iran crisis.

The U.S. is pursuing a strategy of maximum pressure, while the UK is prioritizing stability and the prevention of further escalation. This divergence could complicate coordinated action and weaken the overall Western response.

Analysis: A Strategic Balancing Act

Starmer’s position reflects a careful calculation. Supporting the blockade risks entangling Britain in a wider conflict and worsening global economic strain. Opposing it, however, creates visible distance from a key ally.

By focusing on keeping the strait open, the UK is attempting to balance security concerns with economic stability, while avoiding direct confrontation.

Britain’s stance sends a clear signal. Even close allies are not fully aligned on how far to go against Iran.

As tensions rise, that lack of unity could shape the next phase of the crisis just as much as the actions taken in the Gulf itself.

With information from Reuters.

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Only 50/50 odds that the Strait of Hormuz normalizes by July according to prediction markets

Apr 13, 2026, 10:22 AM ETState Street SPDR S&P 500 ETF Trust (SPY), VOO, IVV, RSP, SSO, SH, UPRO, SDOW, DIA, QQQ, SQQQ, TQQQ, QQQM, QID, SDS, DOG, DXD, SPXU, DDM, XLE, VDE, XOP, OIH, AMLP, IXC, USO, UCO, DBO, OILK, USL, UNG, BOIL, UNLBy: Jason Capul, SA News Editor
oil tanker ship with digital security lock network. Concept of global energy security, natural gas logistics protection, and maritime Blocking the Strait of Hormuz

Suphanat Khumsap

Global investors are increasingly focused on the outlook for the Strait of Hormuz, as geopolitical tensions intensify following Washington’s indication that it may enforce a naval blockade targeting Iranian ports.

The narrow waterway—one of the world’s most critical energy and

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U.S. Navy to blockade Iranian ports on both sides of Hormuz Strait

April 13 (UPI) — The U.S. military said it will begin blocking all ships from leaving or entering Iran’s ports on Monday morning in line with a maritime blockade ordered by U.S. President Donald Trump to cut off Iranian oil exports.

U.S. Central Command said in a news release Sunday that the blockade would be enforced equitably against vessels of all nations sailing to or from Iranian ports, including all those on the Persian Gulf and Gulf of Oman, but stressed vessels serving ports in neighboring countries would be left alone.

“CENTCOM forces will not impede freedom of navigation for vessels transiting the Strait of Hormuz to and from non-Iranian ports,” said the news release, which instructs the masters of all ships to monitor “Notice to Mariners” broadcasts and make radio contact with U.S. naval forces on bridge-to-bridge channels in Gulf of Oman and Strait of Hormuz approaches.

The blockade would effectively cut off Iran’s international trade by preventing it from importing or exporting anything by sea, in particular its energy exports on which it is reliant for hard currency.

Further details would be communicated in a formal notice that would be provided to commercial ships and operators prior to the start of the blockade, due to come into force at 10 a.m. EDT, CENTCOM said.

The statement clarified comments by Trump early Sunday in which he appeared to announce a total blockade of the Strait of Hormuz in response to the failure of peace talks in Pakistan at the weekend.

Trump had said the U.S. Navy “will begin the process of BLOCKADING any and all Ships trying to enter, or leave, the Strait of Hormuz.”

On Saturday, CENTCOM announced that the U.S. Navy guided-missile destroyers USS Frank E. Peterson USS Michael Murphy had transited the Strait of Hormuz and operated in the Persian Gulf, preparatory to clearing Iranian mines and reopening the shipping route to commercial vessels.

Tehran responded to the development with unspecified threats against the ports of its neighbors and raised the specter of widening the conflict to the Red Sea, the other sea passage in the region that is critical to the global economy.

“Security in the Persian Gulf and the Sea of Oman is either for everyone or for NO ONE. If Iran’s ports are threatened, NO PORT in the region will be safe,” the Iranian military’s central command said in a statement carried by state-run broadcaster IRIB.

“Naval blockade of Iran? Bab al-mandeb Coming soon?!,” IRIB said earlier in a post referencing the narrow strait at the southern entrance to the Red Sea, which leads to the Suez Canal, where Iran-backed Houthi rebels attacked around 100 commercial ships November 2023 through September 2025.

Oil prices rose in response to the developments while stock markets retreated.

The benchmark Brent crude and West Texas Intermediate both climbed back above $100 a barrel with the Brent contract for June delivery changing hands at $102.31 per barrel in mid-morning trade in London while the WTI contract for May was trading at $104.44.

The FTSE 100 in London was down 0.33%, the DAX in Frankfurt fell almost 1.2% and France’s CAC 40 was off by almost 1%.

Former U.S. special envoy to the region David Satterfield expressed concerns over the blockade, warning that if shipping continued to be affected current supply disruption would widen beyond oil, with serious implications for Gulf countries’ exports of many other critical materials from aluminum and helium to polymers and fertilizer feed stocks.

“The Gulf is a critical global supply point, far beyond hydrocarbons — and the impact if this goes on for several more weeks is going to become quite profound, beyond just the cost of petrol and diesel at the pump,” Satterfield told the BBC.

Secretary of Defense Pete Hegseth speaks during a press briefing at the Pentagon on Wednesday. Yesterday, the United States and Iran agreed to a two-week ceasefire, with the U.S. suspending bombing in Iran for two weeks if the country reopens the Straight of Hormuz. Photo by Bonnie Cash/UPI | License Photo

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Starmer says UK will not support US blockade of Strait of Hormuz | US-Israel war on Iran News

Other US allies criticise Trump’s move, including France, Spain and Turkiye, and China also condemns the plan.

British Prime Minister Keir Starmer says his country will not join the blockade of the Strait of Hormuz announced by United States President Donald Trump, a move also criticised by other US allies.

“We are not supporting the blockade,” Starmer told BBC radio on Monday, adding that the United Kingdom “is not getting dragged in” to the US-Israel war on Iran.

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Starmer said it was vital to get the strait reopened. In peacetime, about 20 percent of the world’s oil supplies pass through the strategic waterway that links the Gulf to the Indian Ocean.

“It is in my view vital that we get the strait open and fully open, and that’s where we’ve put all of our efforts in the last few weeks, and we’ll continue to do so,” he said.

Al Jazeera’s Rory Challands, reporting from London, said Starmer has continued to “maintain a delicate balancing act” of saying the UK will not be joining the war while being careful not to level any criticism directly at Trump regarding his actions in the war.

Traffic through the strait has been heavily restricted since the start of the war. Iran has allowed through only some vessels serving friendly countries, such as China.

Starmer made his statement as the US military announced it would block all maritime traffic entering and exiting Iranian ports starting from 14:00 GMT. It was unclear, however, how the US military would enforce the blockade.

“The blockade will be enforced impartially against vessels of all nations entering or departing Iranian ports and coastal areas, including all Iranian ports on the Arabian Gulf and Gulf of Oman,” the US military’s Central Command said.

US forces would not impede vessels transiting the Strait of Hormuz to and from non-Iranian ports, it added.

A map of the Strait of Hormuz
A map of the Strait of Hormuz [Courtesy of Roudi Baroudi]

 

In a lengthy social media post on Sunday, Trump said his goal was to clear the strait of mines and reopen it to all shipping and Iran must not be allowed to profit from controlling the waterway.

Meanwhile, French President Emmanuel Macron announced that France and the UK would hold a conference in the coming days aimed at restoring freedom of navigation in the strait.

Macron reiterated that no diplomatic effort be spared in reaching a lasting end to the US-Israel war on Iran.

Nicole Grajewski, assistant professor at the Center for International Research at the Paris Institute of Political Studies, said a US blockade was “not a minor coercive signal” but could rather be considered essentially a resumption of the war.

Other US allies also criticised Trump’s move, including Spanish Defence Minister Margarita Robles, who said the planned naval blockade “makes no sense”.

“It’s one more episode in this whole downward spiral into which we’ve been dragged,” she said.

Fellow NATO ally Turkiye said the Strait of Hormuz should open “as soon as possible”.

“Negotiations with Iran should be conducted, persuasion methods should be used and the strait should be opened as soon as possible,” Turkish Foreign Minister Hakan Fidan told the state-run Anadolu news agency.

China, Washington’s great power rival and a big importer of Iranian oil, also criticised the plan.

“The Strait of Hormuz is an important international trade route for goods and energy, and maintaining its security, stability and unimpeded flow is in the common interest of the international community,” Ministry of Foreign Affairs spokesman Guo Jiakun said, urging Iran and the US not to reignite the war.

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Trump threatens to blockade the Strait of Hormuz

President Donald Trump announced on Sunday that the U. S. Navy would begin a blockade of the Strait of Hormuz following unsuccessful talks with Iran, endangering a fragile two-week ceasefire. Trump stated that the Navy would take action against vessels in international waters that had paid Iran a toll and would destroy mines allegedly placed by Iran in the strait, a critical passage for about 20% of global energy supplies.

Trump declared, “Effective immediately, the United States Navy. . . will begin the process of BLOCKADING any and all Ships trying to enter, or leave, the Strait of Hormuz. ” He added that no vessel paying an illegal toll to Iran would have safe passage and warned that any Iranian who fired at the U. S. or peaceful vessels would face severe consequences. Trump also mentioned that NATO allies had expressed interest in assisting with this operation.

In an interview with Fox News, Trump anticipated that Iran would return to negotiations, suggesting that his comment about wiping out Iranian civilization had prompted initial discussions. Each side blamed the other for the failure of the talks, which aimed to end six weeks of fighting that resulted in thousands of deaths and rising oil prices. Vice President JD Vance, who led the U. S. delegation, indicated that Iran’s unwillingness to accept terms relating to nuclear weapons was the main obstacle.

Iranian Parliamentary Speaker Mohammad Baqer Qalibaf criticized the U. S. for failing to earn Tehran’s trust despite proposed initiatives. He emphasized that the U. S. needed to decide if it could gain Iran’s trust. The recent talks were the first direct U. S.-Iranian meeting in over a decade and came after a ceasefire was announced.

Despite ongoing negotiations, Israel continued its military actions against Hezbollah militants in Lebanon, claiming that this conflict was separate from the U. S.-Iran ceasefire discussions. Israeli military struck Hezbollah rocket launchers, while air raid sirens in Israeli villages signalled incoming rocket fire from Lebanon. Iran seeks control of the Strait of Hormuz, war reparations, a regional ceasefire, and the release of its frozen assets. Even amidst these tensions, three supertankers laden with oil successfully passed through the Strait of Hormuz, marking the first vessels to leave the Gulf since the ceasefire deal.

With information from Reuters

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News Analysis: Trump’s Strait of Hormuz blockade risks clash with China

President Trump responded to the collapse of high-stakes negotiations with Iran by escalating the conflict on Sunday, ordering a full blockade of shipping through the Strait of Hormuz — a risky move that could drive global oil prices higher and provoke confrontation with a far more formidable adversary.

No country relies more heavily on the strait than China, which receives nearly half of its oil imports through the international waterway. In recent days, Beijing has warned that access to its shipping lanes “must be guaranteed.”

Trump administration officials believe the blockade could compel China to pressure Tehran into making further concessions, following Beijing’s crucial role earlier this month in convincing Iran to accept an initial ceasefire.

But the decision by U.S. diplomats to tie negotiations over the status of the strait to those over the fate of Iran’s nuclear program — a matter of torturous diplomacy for the last quarter-century — could make it harder to secure a breakthrough.

In the meantime, a full blockade of the strait could force China to become more directly involved in a conflict that is already heightening tensions with Washington.

On Saturday, reports that Beijing could be preparing to send advanced missile and air defense systems to Iran prompted anger from the White House.

“If China does that, China is gonna have big problems,” Trump told reporters.

It is a high-stakes moment in the world’s most important bilateral relationship, ahead of a closely watched summit between Trump and Chinese President Xi Jinping in Beijing next month that both sides had hoped would help stabilize relations.

The United States and Iran agreed to a two-week ceasefire in the war on Tuesday — on the condition that Iran would allow full freedom of navigation through the strait, a vital commercial artery that was treated for decades as an open, international waterway.

Marathon negotiations in Islamabad, Pakistan, over the weekend between senior U.S. and Iranian officials failed to secure a long-term agreement.

Vice President JD Vance said the central sticking point was Iran’s insistence on maintaining its nuclear program. But Tehran also signaled that shipping through the strait would not return to prewar conditions, pledging to control traffic and impose transit tolls — a scenario that could result in permanently higher global oil prices, a political nightmare for the Trump administration entering the midterm elections.

Trump’s threat to completely shut down traffic through the strait on Sunday may also lead to a temporary spike in oil prices, with experts warning the market could experience barrels costing $150 or more if a blockade persists.

Describing his plans to Fox News on Sunday, Trump said there would be no exceptions to the U.S. blockade for Tehran’s “friends.” Throughout the war, Chinese-bound vessels were granted special passage by Iranian authorities.

“We’re putting on a complete blockade. We’re not going to let Iran make money on selling oil to people that they like and not people that they don’t like, or whatever,” Trump said.

“It won’t be a percentage,” he added. “It won’t be a friend of yours, like a country that’s an ally or a country that’s your friend. It’s all or nothing.”

Trump also wrote on social media that he had ordered the Navy to “seek and interdict every vessel in International Waters that has paid a toll to Iran” — and to “blow to hell” any Iranian assets that open fire on ships.

Beijing did not immediately respond to the proposal. But it has walked a fine line over six weeks of war in the region, describing open waters in the strait as of global interest, while avoiding any condemnation of Iran’s assertion of control.

China’s main energy trading partners in the gulf — Saudi Arabia, the United Arab Emirates and Kuwait — have all advocated for a return to the status quo ante for the passage, pressing allies to reject Iranian control as the new normal.

“Keeping the area safe and stable and ensuring unimpeded passage serves the common interest of the international community,” a Chinese official said last week.

“We hope that all sides can work together,” the official added, “for the early resumption of normal traffic at the strait.”

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Trump says U.S. Navy will block Strait of Hormuz after peace talks fail

President Donald Trump on Sunday said that the U.S. Navy would block the Strait of Hormuz to prevent Iranian ships from transiting it unless Iran opens the Strait and agrees to a peace deal with the United States. File Photo by Ali Haider/EPA-EFE

April 12 (UPI) — President Donald Trump on Sunday said the U.S. Navy will block the Strait of Hormuz to cut off Iran’s shipping lanes after peace talks in Pakistan failed to produce a deal.

Vice President J.D. Vance, who Trump sent to negotiate a deal to end the U.S.-Israeli war in Iran, said Saturday that the talks were not successful because the two sides cannot agree on what to do about the Iranian nuclear stockpile and who will control the Strait, CNN and The Washington Post reported.

Trump told Fox News’ Maria Bartiromo that the United States was going to block the Strait — it will “take a little while, but it’ll be effective pretty soon,” he said — and that nations in the Gulf region have agreed to help in the effort.

The blockade, he said, will prevent “any and all ships” from entering or leaving the the waterway, including vessels belonging to Iran, which have been shipping its oil to other countries and reportedly been bringing weapons parts from China to the Middle Eastern nation.

Vance told reporters early Sunday morning that while Iran had not yet accepted the United States’ “final and best offer,” he expressed optimism that a deal can be reached.

“We just could not get to a situation where the Iranians were willing to accept our terms,” Vance said. “I think that we were quite flexible.”

In a post on X, Mohammad Bagher Ghalibaf, who is Iran’s leading negotiator in the talks, said that he and his colleagues had “raised forward looking initiatives, but the opposing side ultimately failed to gain the trust of the Iranian delegation in this round of negotiations.”

“Before the negotiations, I emphasized that we have the necessary good faith and will, but due to the experiences of the two previous wars, we have no trust in the opposing side,” he said.

Secretary of Defense Pete Hegseth speaks during a press briefing at the Pentagon on Wednesday. Yesterday, the United States and Iran agreed to a two-week ceasefire, with the U.S. suspending bombing in Iran for two weeks if the country reopens the Straight of Hormuz. Photo by Bonnie Cash/UPI | License Photo

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Trump Says Hormuz Strait ‘Clearing’ Underway as U.S.-Iran Talks Commence

U. S. and Iranian negotiators held high-level talks in Pakistan on Saturday, aiming to end a six-week war. President Donald Trump announced that U. S. military operations were underway to clear the Strait of Hormuz, claiming the sinking of 28 Iranian mine-dropping vessels. Iranian state media dismissed this as false, and reports indicated that the talks were stalled over the strait’s status. Iranian state TV stated no U. S. ships had crossed the strait, which is vital for global energy supplies and has been effectively blocked by Tehran.

The discussions in Islamabad were the first direct U. S.-Iranian talks in over a decade, and the highest-level since the 1979 Islamic Revolution. Key U. S. officials, including Vice President JD Vance and Jared Kushner, engaged with Iranian officials for two hours after arriving in mourning attire for Supreme Leader Ayatollah Ali Khamenei and victims of U. S. bombings. A Pakistani source noted fluctuating tensions during the meeting. French President Emmanuel Macron underscored the importance of ceasefire negotiations in his conversation with Iran’s President Masoud Pezeshkian.

Despite the severity of the ongoing war, which has driven global oil prices up and resulted in significant casualties, clarity on negotiation progress remains elusive. Before talks commenced, an Iranian source claimed that the U. S. had agreed to release frozen assets, but this was quickly denied by U. S. officials. Iran is seeking several concessions, including control of the Strait of Hormuz, war reparations, and a regional ceasefire. Trump aims for unhindered shipping through the strait and to halt Iran’s nuclear program.

Iran’s spokesperson remarked on the high level of distrust, indicating a cautious approach to negotiations. Tehran also aims to impose transit fees in the Strait of Hormuz, crucial for global oil shipments. Disruptions in the strait have contributed to rising inflation and an economic slowdown worldwide.

On the same day, strikes in southern Lebanon continued, with reports of Israeli drones and military operations against Hezbollah. Israeli and Lebanese officials are set to discuss matters in the U. S. While the talks took place, Islamabad was heavily secured, reflecting the significant diplomatic evolution of Pakistan in recent times. Local sentiments expressed pride in Pakistan’s emergent diplomatic role in global peace efforts.

With information from Reuters

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Fragile Ceasefire Tested as Strait Closure and Lebanon Fighting Continue

A two day ceasefire between the United States and Iran has paused direct large scale strikes, but key flashpoints across the region remain active.

The closure of the Strait of Hormuz and escalating violence in Lebanon highlight the limited scope of the truce, exposing gaps in its coverage and enforcement.

Strait of Hormuz Remains Closed

Despite expectations that the ceasefire would stabilise energy markets, the Strait of Hormuz remains effectively shut.

This chokepoint normally handles a significant share of global oil shipments, with around 140 vessels passing through daily under normal conditions. In the first 24 hours after the ceasefire, only a handful of ships were able to transit the route.

The continued disruption has driven immediate delivery oil prices sharply higher, with some refiners in Europe and Asia reportedly paying near record levels.

Donald Trump publicly criticised Iran for failing to uphold what he described as an agreement to allow oil flows, while also signalling that shipments could resume soon without detailing mechanisms.

Disputed Scope of the Ceasefire

A central point of contention is whether the ceasefire extends beyond direct US Iran hostilities.

Iran maintains that the truce should include theatres such as Lebanon, where Hezbollah is engaged in conflict with Israel.

The United States and Israel reject this interpretation, arguing that Lebanon falls outside the agreement’s framework. This divergence has created parallel narratives of compliance and violation, undermining the credibility of the ceasefire.

Escalation in Lebanon

Fighting between Israel and Hezbollah has continued, with both sides exchanging strikes.

Israeli forces carried out large scale attacks shortly after the ceasefire announcement, while Hezbollah resumed missile launches following earlier indications it would pause operations.

Israeli Prime Minister Benjamin Netanyahu has since signalled a shift by expressing willingness to begin separate negotiations with Lebanon, focusing on disarming Hezbollah and establishing more stable relations.

Meanwhile, Lebanese officials are attempting to broker a temporary ceasefire as a stepping stone toward broader negotiations, indicating a parallel diplomatic track separate from US Iran talks.

High Stakes Talks in Islamabad

The first direct peace talks between the United States and Iran are scheduled to take place in Islamabad, which has been placed under heavy security lockdown.

Pakistan’s role as mediator underscores its diplomatic positioning, with tight security arrangements including restricted zones and controlled access around the negotiation venue.

The Iranian delegation is expected to be led by Mohammad Baqer Qalibaf, while the US side will be headed by JD Vance.

Competing Strategic Objectives

The talks are shaped by fundamentally different goals

The United States seeks

  • Limits on Iran’s nuclear programme
  • An end to uranium enrichment
  • Curtailment of missile capabilities
  • Withdrawal of support for regional allies

Iran, by contrast, is expected to demand

  • Removal of economic sanctions
  • Recognition of its authority over the Strait of Hormuz
  • Compensation for wartime damage

Iran’s leadership, now under Mojtaba Khamenei, has adopted a defiant posture, signalling that concessions will come at a high price.

Economic Fallout

The disruption in the Strait of Hormuz is already feeding into global economic indicators.

Oil price volatility is expected to influence inflation data, particularly in the United States, where upcoming consumer price figures may reflect the early economic impact of the conflict.

While futures markets have shown some optimism following the ceasefire, spot prices remain elevated, indicating persistent uncertainty about immediate supply conditions.

Military and Strategic Reality

Despite the ceasefire, the broader strategic objectives of the war remain unresolved

Iran retains missile and drone capabilities capable of targeting regional adversaries
Its nuclear programme continues, with a significant stockpile of enriched uranium
The political system has remained intact despite internal unrest

For the United States, initial goals such as dismantling Iran’s nuclear capacity and weakening its regional influence have not been fully achieved.

Analysis

The current situation reflects a fragmented ceasefire architecture in which the absence of a unified framework allows multiple conflicts to persist simultaneously. The continued closure of the Strait of Hormuz demonstrates how economic leverage can be maintained independently of formal military de escalation, reinforcing Iran’s bargaining position ahead of negotiations.

At the same time, the divergence over whether Lebanon is included in the truce highlights the limitations of narrowly scoped agreements in complex regional conflicts involving multiple state and non state actors. The persistence of Israel Hezbollah hostilities illustrates how parallel wars can undermine broader diplomatic efforts, creating a layered conflict environment.

The decision to proceed with talks in Islamabad despite ongoing violations suggests that both the United States and Iran view negotiations as strategically necessary, even in the absence of full compliance on the ground. This indicates a shift toward diplomacy driven not by stability but by mutual recognition of the costs of prolonged confrontation.

With information from Reuters.

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Vance warns Iran not to ‘play us’ ahead of diplomatic mission in Pakistan

Vice President JD Vance departed Friday for Islamabad, Pakistan, to open the first direct negotiations aimed at ending the war between the United States and Iran.

Together with a delegation of deeply mistrusting negotiators from Tehran, Vance is tasked with striking a lasting peace between rival nations which have failed to keep promises made days ago in a delicate last-minute ceasefire. Ongoing military activity in the Middle East and disagreements over Iran’s control of key shipping routes have left the diplomatic effort vulnerable to collapse before the talks even begin.

“If the Iranians are willing to negotiate in good faith, we’re certainly willing to extend the open hand,” Vance told reporters before boarding Air Force Two. “If they’re gonna try and play us, then they’re gonna find that the negotiating team is not that receptive.”

On Tuesday, President Trump called off his plans to unleash “hell” on Iran based on assurances that it lift its blockade of the Strait of Hormuz, but traffic through the vital waterway was still at a trickle Friday, as more than 600 ships remained stranded in the Persian Gulf, according to marine tracking data. Trump accused Iran on Thursday of doing a “very poor job, dishonorable some would say,” of allowing oil through the strait.

“The Iranians don’t seem to realize they have no cards, other than a short term extortion of the World by using International Waterways. The only reason they are alive today is to negotiate!” he wrote on Truth Social Friday.

Meanwhile, Lebanon has emerged as the central dispute threatening to derail the talks before they begin.

Hours after the ceasefire took effect, Israel launched what Lebanese officials described as its heaviest wave of strikes since the war began, killing at least 303 people, according to local health officials.

Jerusalem argues the Lebanese front is still on the table, but Iran and Pakistan disagree.

“The Iran–U.S. Ceasefire terms are clear and explicit: the U.S. must choose — ceasefire or continued war via Israel. It cannot have both,” Iranian Foreign Minister Abbas Araghchi said earlier this week. “The world sees the massacres in Lebanon. The ball is in the U.S. court, and the world is watching whether it will act on its commitments.”

Vance has acknowledged a “legitimate misunderstanding” over whether Lebanon was included in the ceasefire terms, telling reporters Washington never made that promise.

Separate negotiations regarding Lebanon are expected next week in Washington, Lebanese President Joseph Aoun confirmed Friday. Israeli Prime Minister Benjamin Netanyahu has also OK’d the talks, but said a ceasefire is not possible.

Parliament Speaker Mohammad Bagher Qalibaf and the Iranian delegation arrived early Saturday in Islamabad, Iranian state media reported. Hours earlier he said a ceasefire in Lebanon “must be fulfilled before negotiations begin.”

Bagher Qalibaf added a second condition — the release of frozen Iranian assets — which he suggested must be returned before Tehran takes its seat at the bargaining table. Little is known about the halted Iranian funds overseas, but such assets are typically held back as a result of U.S.-imposed sanctions.

The vice president’s role in peace talks has grown in recent weeks. Administration officials have cast Vance as one of the few leaders Tehran would be willing to engage with directly. With a global economy upended by Trump’s far-reaching military ambitions, a victory in Islamabad could spike Vance’s standing as a prospect to lead the GOP post-Trump.

That’s if he’s able to take pressure off American wallets with an agreement that liberates Iran’s grip over the strait, which has choked much of the world’s oil supply,

Americans have continued to feel the fallout at the gas pump and grocery stores, as U.S. inflation climbed to 3.3% in March, the highest annual rate in nearly two years, according to the data released Friday by the Bureau of Labor Statistics.

Monthly prices rose 0.9%, a sharp increase from February’s 0.3% monthly rise, when annual inflation sat at 2.4%, the new data showed.

The White House characterized the rising inflation as a short-term disruption caused by the Iran war, while noting that the administration is “diligently working to mitigate” rising costs.

“As the Administration ensures the free flow of energy through the Strait of Hormuz, the American economy remains on a solid trajectory thanks to the Administration’s robust supply-side agenda of tax cuts, deregulation, and energy abundance,” White House spokesperson Kush Desai wrote on X.

Britain announced a meeting next week with dozens of countries to coordinate efforts to reopen the Strait of Hormuz. The summit will focus countering Iran’s proposal to charge transit tolls to allow ships through the waterway.

In a televised address to the nation, Pakistan’s Prime Minister Shehbaz Sharif spoke of a “devastating storm of inflation,” if peace talks don’t succeed in liberating the Middle East’s oil supply. He characterized the current stage as a “make-or-break moment.”

“We will make every possible effort to ensure the success of the peace process,” he said.

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