Overview
- Trump, who on Monday dismissed Tehran’s written response as “garbage,” rejected demands to lift the naval blockade and grant Iran partial control of Hormuz, and said the ceasefire is on “massive life support.”
- Iran’s parliamentary speaker said forces would retaliate if attacked and warned the U.S. would be “surprised” by the response.
- Washington announced new sanctions on people and firms tied to Iranian oil sales to China, following similar U.K. measures earlier the same day.
- Oil jumped, with Brent near $105 and WTI about $99, after Aramco’s chief said the world loses roughly 100 million barrels each week the strait stays closed.
- Trump plans to meet Xi Jinping in Beijing this week, and the talks could determine how much pressure China puts on Iran’s oil trade.