SENIOR IRANIAN OFFICIAL TO REUTERS: UNDER DRAFT MEMORANDUM, U.S. WOULD RELEASE $25 BILLION IN FROZEN IRANIAN ASSETS THROUGH DIRECT CASH TRANSFERS, REGIONAL COOPERATION MECHANISMS AND FINANCIAL CREDIT LINES
SENIOR IRANIAN OFFICIAL: UNDER DRAFT MEMORANDUM, IRAN WOULD IMMEDIATELY REOPEN THE STRAIT OF HORMUZ TO ALL COMMERCIAL VESSELS, WHILE THE U.S. WOULD LIFT ITS NAVAL BLOCKADE
BREAKING: Iran announces that it is HALTING its military operations against Israel after several attacks by both sides.
Details include:
1. The IRGC warned that any further strikes by Israel in Iran or Lebanon would trigger "a far stronger and more forceful response"
2. The move comes an hour after President Trump said "Israel and Iran must immediately stop shooting"
3. Trump also announced that "Both sides, Israel and Iran, are looking to do an immediate ceasefire"
US stocks are rising on the news.
🇺🇸🇮🇷 U.S. oil prices just surged above $110 a barrel as the Strait of Hormuz crisis gets worse.
Nearly 2,000 ships and 20,000 sailors are now stranded in the Gulf waiting to pass through the critical waterway.
Marine insurance companies cancelled war risk coverage back in March, and the U.S. says it could take at least six months to clear the naval mines.
Even after the mines are gone, insurance costs are expected to stay high until a real deal is reached.
Now, Trump is set to get a briefing Thursday from CENTCOM Commander Brad Cooper on new plans for potential military action against Iran.
And the oil market is clearly reacting to fears of prolonged disruption.
Kobeissi Letter
IRAN HAS CONTROL OVER ALL HORMUZ TRAFFIC, OFFICIAL SAYS
IRAN’S TOP NEGOTIATOR SAYS SIGNIFICANT GAPS REMAIN WITH U.S.
IRAN SAYS WAR MAY RESUME AT ANY TIME: WSJ
Indian oil tankers passing through the Strait of Hormuz did not pay any tolls to Iran, Tehran’s envoy to New Delhi clarified, following US President Donald Trump’s warning to block ships that make such payments