Trump Declares Iran Ceasefire 'OVER' Amid Renewed Gulf Hostilities

Former U.S. President Donald Trump announced Friday that a ceasefire with Iran reached last month was "OVER," though he asserted that both nations had agreed to continue diplomatic talks. The declaration, made on his Truth Social platform, comes at the end of a week marked by escalating military exchanges that have heightened geopolitical risk and roiled global energy markets.

Renewed Conflict and Diplomatic Strain

The announcement follows a sharp uptick in hostilities after three Qatari and Saudi commercial tankers came under fire in the Gulf. According to reports cited by Reuters, the incident prompted U.S. strikes on Iranian sites, which were followed by Iranian counter-strikes on U.S. military positions in the region.

In his post, Trump stated, "The Islamic Republic of Iran has asked us to continue 'talks.' We have agreed to do so, but the United States has stated to them, in no uncertain terms, that the Cease Fire is OVER!" However, Iranian state television disputed this account, reporting that Tehran had not requested talks but had agreed to host a Qatari mediator. A source familiar with the matter confirmed to Reuters that Qatari negotiators were in Iran to de-escalate tensions.

Market Impact and Strait of Hormuz

The renewed conflict has had a direct impact on commodity markets, with crude oil prices posting their biggest weekly rise in eight weeks. The uncertainty centers on the security of the Strait of Hormuz, a critical maritime chokepoint.

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Before the conflict, the strait was the transit route for approximately one-fifth of global oil supplies. Senior U.S. officials said Friday that Washington is demanding Iran publicly commit to halting attacks on shipping and guarantee safe passage for all vessels through the waterway.

Escalating Rhetoric

The diplomatic friction was accompanied by severe warnings from Trump, who posted that he had ordered the U.S. military to be prepared for strikes if Iran attempted an assassination. The comments appeared to reference reports from The Wall Street Journal and other media, which cited intelligence that Iran had devised a plan to assassinate the former president.

According to Iran’s Health Ministry, U.S. strikes in six Iranian cities on Wednesday and Thursday killed at least 17 people and wounded 115. The collapsed interim deal was intended to de-escalate a conflict that began on February 28 and has since disrupted energy supplies and raised fears of a wider economic downturn.