Trump: Mideast truce on “life support” amid Iran row

Iran-US tensions derail hopes of quick deal

Trump’s sharp rejection of Iran’s response to a US proposal sent oil prices higher and dampened expectations of a near-term agreement to reopen the Strait of Hormuz to commercial shipping. He described Iran’s position as “TOTALLY UNACCEPTABLE” and insisted the US would achieve “complete victory”.

Energy markets and global supply chains under pressure

The ongoing conflict and restrictions in the Strait of Hormuz have severely disrupted global energy flows, with Saudi Aramco CEO Amin Nasser warning that market rebalancing could take months or even extend into 2027 if delays continue. The crisis is also threatening fertiliser and food supplies worldwide, raising fears of a wider humanitarian impact.

Iran, US and Israel remain far from resolution

Iran said it sought the release of frozen assets and an end to sanctions, while the US and its allies continue to accuse Tehran of pursuing nuclear weapons—an allegation Iran denies. Israeli Prime Minister Benjamin Netanyahu said the conflict would not end until Iran’s nuclear facilities are dismantled, while reports suggest limited diplomatic proposals involving uranium transfers remain under discussion.