Trump Declares Iran Ceasefire 'OVER!', Heightening Tensions in Vital Oil Waterway

U.S. President Donald Trump said Friday that a ceasefire with Iran established last month was over, signaling a potential new phase of conflict even as he confirmed both nations had agreed to continue talks. The announcement follows a week of renewed hostilities in the Gulf that has rattled global energy markets.

Diplomatic Standoff

In a post on his Truth Social platform, 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!" According to a Reuters report, Trump also warned he had ordered the U.S. military to be prepared for strikes if Iran attempted to assassinate him.

Iran disputed the U.S. president's characterization of the events, with state television reporting that Tehran had not requested talks but had agreed to host a Qatari mediator. A source familiar with the matter told Reuters that Qatari negotiators were in Iran on Friday in an effort to de-escalate the situation.

Market Impact and the Strait of Hormuz

The escalation has direct implications for global energy supplies, with recent attacks on three Qatari and Saudi commercial tankers intensifying focus on the Strait of Hormuz. The waterway, through which one-fifth of global oil supplies passed before the conflict, is a critical chokepoint.

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The renewed fighting contributed to crude oil prices posting their biggest weekly rise in eight weeks, reflecting investor concern over potential supply disruptions. Senior U.S. officials said Friday that Washington is demanding Iran publicly guarantee it will stop attacks on shipping and ensure all lanes in the strait remain open.

A Week of Renewed Conflict

Friday's statements came after a week of military exchanges. The attacks on tankers prompted U.S. strikes on Iranian sites, which were followed by Iranian counter-strikes on U.S. military positions in Gulf states. 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.

Last month's interim deal was intended to de-escalate a conflict that began on February 28 and has killed thousands while disrupting global trade. Despite the heightened rhetoric, U.S. officials indicated that recent conversations between the two countries had been productive.