In brief
During a meeting with NATO chief Mark Rutte ahead of a summit, Trump said the ceasefire agreement with Iran was over and attacked Iranian leaders with the word "scum." The fresh exchange of fire followed attacks on oil tankers in the Strait of Hormuz, prompting U.S. Central Command to strike back at Iranian targets. Oil markets responded with a 6% rise, although prices remain below the highs seen during the complete closure of the strait. Iranian parliament speaker Ghalibaf criticized the U.S. for violating the Memorandum of Understanding on safe passage of vessels and the military ceasefire. The U.S. has also revoked a temporary suspension of sanctions on Iranian oil sales.
U.S. President Donald Trump has declared the ceasefire agreement with Iran "over," calling the nation's leadership "scum" in a heated exchange that followed fresh military strikes between the two sides.
The exchange began after three Iranian-owned oil tankers were attacked in the Strait of Hormuz, to which U.S. Central Command responded with "powerful" strikes on Iranian targets. Iran retaliated by striking U.S. military sites in Bahrain and Kuwait.
Oil markets reacted quickly, reporting a roughly 6% rise in crude prices, though they remain below the peak levels seen when the strait was fully closed.
Trump said the ceasefire was "a waste of time" and encouraged U.S. negotiators to keep talking if they choose, but he dismissed any continued dialogue with Iranian officials.
Ghalibaf, the speaker of the Iranian Parliament, accused Washington of breaching the Memorandum of Understanding, which included a 14‑point list of steps for a permanent end to conflict and safe passage of vessels. He called the U.S. "bully" and warned that the era of extortion was over.
The U.S. has revoked its temporary suspension of sanctions on Iranian oil sales, a move that may further impact the region’s oil trade dynamics.
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