Trump indicated that Iran talks could take place over the weekend, stating Iran has agreed not to possess a nuclear weapon. Failure to reach a deal with Iran could lead to a resumption of fighting in Lebanon, and Israel is demanding the dismantling of Hezbollah. Falling oil prices are contributing to a more positive outlook for the energy market.
The US military turned back 13 vessels after a 24-hour blockade of Iranian ports in the Persian Gulf and the Gulf of Oman. President Trump announced the action, citing Iran's failure to reopen the Strait of Hormuz as a violation of ceasefire conditions. The operation targets Iranian ports and coastlines, not the Strait of Hormuz itself.