Overview
- Trump issued a 48‑hour ultimatum for Iran to reopen the Strait of Hormuz and threatened to obliterate power plants, then ordered a five‑day pause hours before the deadline.
- Tehran and state‑affiliated media deny any direct or indirect communication with Washington, even as Turkey and Oman are cited as facilitating channels.
- Iran’s military and senior officials warned that strikes on its grid would prompt retaliation against regional energy and desalination facilities and could include mining Gulf sea lanes.
- Oil prices slid on the announcement, with Brent briefly falling from nearly $109 to below $94 per barrel before recovering part of the drop.
- Hostilities continue elsewhere as Israel reports new strikes inside Iran, and shipping through the Strait of Hormuz remains largely closed beyond select safe‑passage allowances.