US Iran War LIVE Update: US President Donald Trump has said he will maintain a naval blockade of Iranian ports amid fears the vital Strait of Hormuz may not reopen soon, Bloomberg reports.
Iran US War LIVE: What happened in the last few hours?
- Fuel prices are rising rapidly in various parts of the United States, with the national average hitting new highs and gasoline in California climbing above $6 a gallon. This trend is becoming more of a problem for the Republican Party as the midterm elections approach.
- Trump responded by saying that gas prices would drop, saying they would “drop like a rock” once the war was over.
- Oil prices rose on Friday as diplomatic efforts to ease tensions with Iran stalled, Tehran continued to block the Strait of Hormuz while the US Navy restricted Iranian oil exports.
- Brent crude futures for July delivery rose $1.19, or 1.08%, to $111.59 a barrel by 01:49 GMT, while U.S. West Texas Intermediate gained 39 cents, or 0.37%, to $105.46.
- Iran’s new Supreme Leader Mojtaba Khamenei on Thursday cast doubt on the chances of reaching a deal. In a rare statement, he pledged that the country would not abandon its nuclear or missile programs and indicated that Tehran would retain control of the Strait of Hormuz.
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