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Oil prices rise as resolution to Iran war remains unclear following MOU expiration
Fox News • • nation
Key Points:
- Iran's parliamentary speaker, Mohammad Bagher Qalibaf, stated that the Islamic Revolutionary Guard Corps will continue controlling shipping in the Strait of Hormuz until the U.S. meets Iran's demands, including lifting sanctions and ending military threats.
- The U.S. maintains a naval blockade on Iran’s ports while insisting on unrestricted international passage through the Strait of Hormuz, amid ongoing tensions.
- A ship transiting the Strait of Hormuz was struck by an unknown projectile near Oman, resulting in one crew member's death and engine room damage; the remaining crew are being assisted by the Omani Coast Guard.
- President Donald Trump asserted that Iran wants a deal but refuses to accept necessary terms, emphasizing that Iran cannot be allowed to develop a nuclear weapon.
- The 60-day ceasefire between the U.S. and Iran expired with no resolution, as both sides remain firm on their positions regarding Iran’s nuclear program and control of the Strait of Hormuz.
