Trump says there will be no talks with Iran. Tehran claims the Strait of Hormuz is still closed

?U.S. Donald Trump, President of the United States, said that no talks with Iran were being held and that none were planned. He also insisted that the Strait of Hormuz is open, contrary to an earlier Iranian assertion that this vital waterway was closed for shipping.

As the prospects of a deal to end a conflict that has lasted nearly six months receded, oil prices rose again on Tuesday. Stock markets fell and borrowing costs in major economies, including the U.S., reached multi-decade-highs amid fears about the inflationary and fiscal effects long-term.

The temporary ceasefire agreement expired Monday, and a senior Iranian government official said that the diplomatic impasse was forcing his country to adopt a more "offensive" military posture. However, there were no new reports of strikes on either side on Tuesday.

Trump stated in a Tuesday post on Truth Social that "there are no scheduled or ongoing talks with the Islamic Republic?Iran."

The Naval Blockade is still in full effect. The Hormuz Strait has been opened and is operational. "All water mines are removed or detonated," said the official.

Jared Kushner - Trump's son in law and special envoy - had struck an optimistic tone on Monday. He said that talks with Iran are still underway and "probably more robust than ever before".

SHIPPING DISRUPTIBLE

Preliminary shipping data showed that despite Trump's "typically ebullient" remarks about the Gulf situation, ship crossings through the Strait of Hormuz on Monday were still below ten.

United Kingdom Maritime Trade Operations received a report from a ship's crew on Tuesday that a vessel had been struck by an unidentified projectile as it was transiting the Strait of Hormuz. The damage to its engine room and crew member were both reported.

According to the report, the Omani Coast Guard was assisting the remaining crew.

In comments published by the state media, the top Iranian negotiator Mohammad Baqer Qalibaf stated that the strait will remain closed until the U.S. meets the conditions of the interim agreement signed with Iran in July.

Qalibaf said that these conditions included the U.S. lifting their blockade on Iranian ports, lifting of oil sanctions, releasing Tehran’s frozen assets and ending military operations and threats across all fronts.

In a memorandum signed on June 17, a 60-day deadline was set for a wider deal regarding Iran's nuke programme and U.S. sanction. This period expired on Monday, and Trump stated that he has no plans to extend the agreement.

The agreement that declared "immediate, permanent, and complete termination of military operations" on all fronts, had unraveled quickly over a dispute regarding control of the Strait of Hormuz. This narrow waterway was through which, before the war, a fifth of world oil and natural gas liquefied flowed.

IRAN SAYS IT STILL OPEN TO TALKS

Trump and Tehran have frequently switched between threatening and emollient language as they search for a solution to the crisis that erupted after the U.S. launched attacks against Iran on February 28,

Mohammad Mokhber is an advisor to Iran's Supreme Leader. According to the semi-official Fars News Agency, he said that Iran remains open to dialogue with America, but that it does not mistake negotiations with surrender.

Mokhber stated that military pressure and sanctions will not break Iran’s resolve and the country will defend its security and dignity, as well as allies without seeking war.

Three Iranian officials said that even though Iran is demonstrating resilience in its war effort, the threat of further economic sanctions could worsen hardships, reignite discontent and undermine the Islamic Republic’s legitimacy.

The conflict has killed thousands of people, mostly in Iran and Lebanon. Iran has bombed U.S. bases and infrastructure, including in Oman, Jordan Kuwait, Israel and the United Arab Emirates.

Benchmark? Brent crude oil futures surged in price during the conflict. They reached a high of $126 per barrel, approximately 75% higher than pre-war levels. Brent crude futures closed Tuesday up 20 cents at just under $91 per barrel.

According to AAA, gas prices are now above $4 a gallon for Americans who plan to vote in the November congressional elections. Before the war, they were less than $3. (Additional reporting from the Dubai bureau and Daphne Psaledakis, Washington; Writing by Gareth Jones and Editing by Alison Williams.)

(source: Reuters)