US-Iran War LIVE Updates: Exactly two months after the US-Iran war started on 28 February, Iran has offered to end its chokehold on the Strait of Hormuz if the US lifts its blockade and ends the war, Associated Press has reported. However, US President Donald Trump seems unlikely to accept the offer, while Secretary of State Marco Rubio apparently ruled out any deal that excludes Iran’s nuclear program.
Meanwhile, the biggest news coming from West Asia is the United Arab Emirates announcement that it will leave OPEC (Organization of the Petroleum Exporting Countries) from 1 May. With this, the oil cartel will be stripped of one of its largest producers.
Here are the latest updates so far:
Brent Crude Price: On Tuesday, Brent crude oil traded above $111 a barrel, over 50% higher than its prewar price.
Gulf Arab countries jointly condemned Iran’s actions in the Strait of Hormuz in Gulf Cooperation Council meeting held in Saudi Arabia and chaired by Saudi Crown Prince Mohammed bin Salman.
Leaders from Qatar, Bahrain, Kuwait and UAE called for restoring “security and freedom of navigation” to prewar levels and urged deeper military integration
UAE’s OPEC exit: Though the announcement doesn‘t change anything about the blockage of the Strait of Hormuz, but it could help lower post-war oil prices.
US-Iran War LIVE Updates: Trump says King Charles does not want Iran to have nuclear weapon
President Donald Trump said on Tuesday Britain’s King Charles did not want Iran to have a nuclear weapon, introducing the fraught subject of the Middle East conflict into comments at a White House state dinner for the visiting royal.
US-Iran War LIVE Updates: Trump instructs aides to prepare for extended blockade of Iran
Oil prices rose on Wednesday, extending a multi-day rally, on reports the U.S. will extend its blockade of Iranian ports, likely prolonging supply disruptions from the key Middle East producing region.
US-Iran War LIVE Updates: Trump instructs aides to prepare for extended blockade of Iran
US President Donald Trump has instructed aides to prepare for an extended blockade of Iran, the Wall Street Journal has reported, citing US officials.
In recent meetings, Trump opted to continue squeezing Iran’s economy and oil exports by preventing shipping to and from its ports, the report said, adding that he believed that his other options, including resuming bombing or walking away from the conflict, carried more risk than maintaining the blockade.
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