The Trump administration has signalled that it is prepared to wait. Energy Secretary Chris Wright said Washington was playing the “long game”. Brent settled near $91 a barrel on Monday, while WTI traded above $85. Follow along for the latest on West Asia war.
US-Iran War Live Updates: Iran has threatened to escalate its military posture in the Strait of Hormuz and the wider region after a 60-day window for reaching a permanent peace agreement expired without a breakthrough. A senior Iranian official told Reuters that Tehran could launch a “timely and precise” attack to break the US naval blockade if diplomacy failed.
Both Washington and Tehran ruled out extending the interim agreement.
“They want to make a deal, but they’re not going to make the kind of a deal that I feel is necessary,” US President Donald Trump said. He had also said that Iran “should put up a white flag of surrender”.
Iranian Foreign Ministry spokesperson Esmaeil Baqaei, meanwhile, said the deadline was irrelevant because “the US violated the understanding from the very beginning” and formal negotiations never began.
The June agreement, which promised an end to military operations, sanctions and nuclear negotiations, the removal of the US blockade and the reopening of Hormuz, has largely unravelled.
The Trump administration has signalled that it is prepared to wait. Energy Secretary Chris Wright said Washington was playing the “long game”, while envoy Jared Kushner said Trump would be “patient on a deal”, even as he suggested backchannel communication remained active.
As always, oil markets reflected the sentiment: Brent settled near $91 a barrel on Monday, while WTI traded above $85. Follow our live coverage for the latest developments.