Oil prices fell for a second day on Wednesday as the United States said that its military had totally stopped shipping goods into and out of Iran by sea. Meanwhile, President Donald Trump stated that negotiations with Tehran to end the war could resume this week.
Vice President JD Vance, who oversaw weekend meetings that concluded without a breakthrough, expressed optimism about the current state of affairs. Trump stated that talks between US and Iranian officials might restart in Pakistan in the next two days.Trump told ABC News reporter Jonathan Karl, “I think you’re going to be watching an amazing two days ahead,” adding that he did not believe a two-week ceasefire that expires on April 21 would need to be extended. Trump stated, “It could end either way, but I think a deal is preferable because then they can rebuild,” according to a Karl post on X. “It’s true that their regime has changed. We eliminated the extremists regardless of the circumstances.
Negotiating teams from the US and Iran may return to Pakistan later this week, according to officials from Pakistan, Iran, and the Gulf, however a senior Iranian source claimed no date had been established. A US-sanctioned and Chinese-owned tanker named Rich Starry was returning to the Strait of Hormuz on Wednesday after leaving the Persian Gulf, but other ships were being turned back as a result of the US blockade on Iranian ports. 90% of Iran’s economy, according to US Central Command chief Admiral Brad Cooper, is fueled by maritime trade, which American forces have totally stopped.According to Cooper’s article on X, “U.S. forces have completely stopped economic trade going into and out of Iran by sea in less than 36 hours since the blockade was implemented.”
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