Oil Prices Fall Below $100 After Trump Pauses Hormuz Escort Plan
Trump said the pause will test whether a deal can be signed as the Strait of Hormuz blockade remains in force.
- United States President Donald Trump announced a temporary pause to the "Project Freedom" operation guiding commercial vessels through the Hormuz Strait, citing "great progress" toward a final agreement with Iran.
- Secretary of State Marco Rubio declared that the initial military campaign, "Operation Epic Fury," concluded on Tuesday, though the United States blockade of Iranian ports remains in full force.
- Iranian Foreign Minister Abbas Araghchi met China's top diplomat Wang in Beijing on Wednesday to address the regional shipping crisis, as about 20% of global oil supply traverses the Hormuz Strait.
- Rejecting United States "maximum pressure" demands as "impossible," President Masoud Pezeshkian asserted "no one can make us surrender" despite ongoing diplomatic efforts to end the conflict.
- Defence Secretary Pete Hegseth warned that while the United States is "not looking for a fight," any further Iranian attacks would face "overwhelming and devastating" force, matching the Revolutionary Guards' threat of a "firm response.
47 Articles
47 Articles
US President Trump remains on the zigzag course: He interrupts the action to give ships in the Strait of Hormus escort protection - after just one day. Is there secretly progress towards peace in Iran?
Trump Paused Hormuz Naval Mission Amid Progress in Iran Talks: Israeli Officials
Senior Israeli officials have said that President Donald Trump’s decision to pause a newly launched U.S. naval operation in the Strait of Hormuz came amid signs of progress in indirect talks with Iran, even as deep divisions within Tehran’s leadership cast doubt on prospects for a lasting agreement. Trump announced on May 5 that “Project Freedom,” the U.S.-led mission to escort commercial shipping through the Strait of Hormuz, would be suspended…
Iran war could cause job losses in Britain, minister warns
Pat McFadden said the impact of the continued closure of the Strait of Hormuz could feed through to the UK labour market. The economic shock of the Iran war could lead to job losses in Britain over the course of the year, the Work and Pensions Secretary has warned. Pat McFadden told Sky News the impact of the continued closure of the Strait of Hormuz, an important oil shipping route, could feed through to the labour market. The blockage of the s…
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