In a recent interview, President Trump claimed that Iran has committed to not developing nuclear weapons, although he acknowledged the possibility of Tehran reversing this decision. This assertion comes amidst ongoing tensions and stalled ceasefire negotiations between the U.S. and Iran, which have been marked by mixed messages from both sides.
Despite the lack of progress towards a permanent peace deal, U.S. Secretary of State Marco Rubio confirmed that discussions are still taking place. The situation has implications for oil markets, as prices have remained elevated due to the conflict affecting the Strait of Hormuz, a vital shipping route.
Following Trump's comments, oil prices continued to rise, while U.S. stock futures showed mixed results. The potential for Iran to close the Strait of Hormuz in response to ceasefire violations adds further uncertainty to the market, with Trump suggesting that while a resolution may come soon, the blockade could persist longer than anticipated