All posts tagged: United States Brent Oil Fund

U.S. has violated ceasefire agreement, Iran parliamentary speaker says

U.S. has violated ceasefire agreement, Iran parliamentary speaker says

Iran’s parliamentary speaker, Mohammad Bagher Ghalibaf, accused the U.S. on Wednesday of violating the two-week ceasefire agreement. “The deep historical distrust we hold toward the United States stems from its repeated violations of all forms of commitments — a pattern that has regrettably been repeated once again,” Ghalibaf said in a statement posted on social media. Three parts of Iran’s 10-point ceasefire proposal have been violated, Ghalibaf said. The violations are Israel’s continued attacks on Lebanon, the entry of a drone into Iranian airspace, and the denial of the Islamic Republic’s right to enrich uranium, he said. “In such situation, a bilateral ceasefire or negotiations is unreasonable,” the parliamentary speaker said. President Donald Trump said Tuesday that Iran’s proposal was a workable basis for negotiations. Vice President JD Vance addressed Ghalibaf’s allegations while traveling in Hungary on Wednesday. “Ceasefires are always messy,” Vance said in response to the alleged drone incursion into Iran’s airspace. The vice president said the U.S. position is that Iran cannot enrich uranium. The ceasefire extending to Lebanon was never part …

Strait of Hormuz toll confusion remains

Strait of Hormuz toll confusion remains

The fragile ceasefire between the U.S. and Iran depends on the Strait of Hormuz being opened for ships “without limitation, including tolls,” White House press secretary Karoline Leavitt said Wednesday. President Donald Trump wants the strait, which has been effectively blocked by Iran during the war, opened up “immediately, without limitation,” Leavitt said at a press briefing. She was asked if Iran would cross a “red line” by charging ships to pass through the vital oil-shipping route, as it is reportedly planning to do. Trump’s “plain language” demanding the immediate reopening of the strait “should be taken at face value,” Leavitt replied. Iranian state news agency Fars reported earlier Wednesday that oil tanker traffic through the strait has been halted following an Israeli attack on Lebanon that has shaken the hours-old ceasefire. Leavitt called that reporting “false.” “This is a case of, what they’re saying publicly is different privately,” she said. “We have seen an uptick of traffic in the strait today, and I will reiterate the president’s expectation and demand that the Strait of …

Ritchie Torres calls for probe into trades ahead of March Iran news

Ritchie Torres calls for probe into trades ahead of March Iran news

U.S. Rep. Ritchie Torres, a Democrat from New York, during an interview in New York, Jan. 28, 2025. Victor J. Blue | Bloomberg | Getty Images U.S. Rep. Ritchie Torres, D-N.Y., on Wednesday called for a federal probe into suspicious trading activity in oil and equity futures markets just before President Donald Trump’s announcement of a five-day delay in attacks on Iran’s energy infrastructure in March. In a letter to Securities and Exchange Commission Chair Paul Atkins and Commodity Futures Trading Commission Chair Michael Selig first obtained by CNBC, Torres cites reports on a series of irregular and well-timed trades in the minutes ahead of Trump calling a pause on hostilities. “What kind of trader would make a massive trade at 6:49 a.m., 15 minutes before a market-moving presidential announcement with billions of dollars at stake and without a hedge?” Torres said in an interview Wednesday. “The only plausible answer to that question is an insider trader. Any other alternative is a statistical impossibility.” More than $500 million in crude oil futures trades were made …

Trump-Iran agree to two-week ceasefire, plan to open Strait of Hormuz

Trump-Iran agree to two-week ceasefire, plan to open Strait of Hormuz

President Donald Trump pauses as he finishes speaking about the Iran war from the Cross Hall of the White House on Wednesday, April 1, 2026, in Washington. Alex Brandon | Getty Images President Donald Trump on Tuesday said he agreed to suspend planned attacks on Iranian infrastructure for two weeks, backing off his shocking threats to imminently order the destruction of Iran’s “whole civilization.” The move, more than five weeks after the U.S. and Israel launched the war, was “subject to the Islamic Republic of Iran agreeing to the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz,” he wrote on Truth Social. The decision was “based on conversations with Prime Minister Shehbaz Sharif and Field Marshal Asim Munir, of Pakistan,” Trump wrote. “This will be a double sided CEASEFIRE!” he declared. Oil prices plunged as much as 16% following the announcement, while U.S. stock futures shot up. Iran Foreign Minister Abbas Araghchi said in a separate statement that ships will be able to safely pass through the strait for the two-week interval “via …

Pakistan seeks 2-week Iran pause after Trump warns ‘whole civilization will die’

Pakistan seeks 2-week Iran pause after Trump warns ‘whole civilization will die’

Pakistani Prime Minister Shehbaz Sharif on Tuesday asked President Donald Trump for a two-week extension of his threat to wipe out the “whole civilization” of Iran unless Tehran strikes a deal that includes reopening the Strait of Hormuz. Update: Trump suspends Iran attack for two weeks, subject to Hormuz Strait opening Sharif in an X post also asked Iran’s leadership to agree to open up the strait for two weeks “as a goodwill gesture.” “We also urge all warring parties to observe a ceasefire everywhere for two weeks to allow diplomacy to achieve conclusive termination of war, in the interest of long-term peace and stability in the region,” Sharif wrote. The public plea from the leader of Pakistan, which has acted as a mediator between the warring powers, came hours before Trump’s 8 p.m. ET deadline for Iran to either cut a deal or face massive strikes on its civilian infrastructure — which could be considered a war crime. On Tuesday morning, Trump dramatically ramped up his threats, warning on Truth Social that “a whole …

U.S., Iran weigh peace plan as Trump’s ‘hell’ warning nears deadline

U.S., Iran weigh peace plan as Trump’s ‘hell’ warning nears deadline

Smoke rises after explosions struck the northeastern, western, and central areas amid Israeli attacks in Tehran, Iran on April 1, 2026. Tolga Akbaba | Anadolu | Getty Images With ⁠a U.S. deadline approaching, the United States and Iran received the framework of a plan to end their five-week-old conflict, though Tehran rejected any immediate move to reopen the Strait of Hormuz. President Donald Trump has threatened to rain “hell” ​on Tehran if it did not make a deal ​by the end of Tuesday that would allow traffic ​to start moving again through the vital route for global energy supplies. The Pakistani-brokered plan emerged from intense overnight contacts and proposes an immediate ceasefire, followed by negotiations on a broader settlement to be concluded within 15 to 20 days, a source aware of the proposals said on Monday. Pakistan’s army chief, Field Marshal Asim Munir, was in contact “all night long” with U.S. Vice President ⁠JD Vance, special ‌envoy Steve Witkoff and Iranian Foreign Minister Abbas Araqchi, the source said. Iran won’t reopen the Strait ⁠as part …

Trump threatens Iran’s infrastructure as reports emerge of downed U.S. F-35

Trump threatens Iran’s infrastructure as reports emerge of downed U.S. F-35

Significant sections of the B1 Bridge are seen destroyed after an airstrike attributed to the United States and Israel targeted the site near Tehran, in Karaj, Iran, on April 03, 2026. Anadolu | Anadolu | Getty Images U.S. President Donald Trump on Thursday threatened to destroy Iran’s bridges and power plants, saying the “New Regime leadership knows what has to be done, and has to be done, FAST!” in a Truth Social post. Trump did not elaborate on what needed to be “done,” but said the U.S. “hasn’t even started destroying what’s left in Iran.” Hours later, Iran’s semi-official Tasnim news agency reportedly claimed that a U.S. F-35 fighter jet was shot down over central Iran. Images of debris posted on Telegram included a photo that appeared to show the words “U.S. Air Forces in Europe” on what looked like a plane’s tail section. The U.S. Central Command, which oversees the region, and Iranian authorities did not respond to a request for comment at the time of publication. Read more U.S.-Iran war news Trump’s latest threat …

Trump says Iran war nearly done: Speech recap

Trump says Iran war nearly done: Speech recap

Sen. Lindsey Graham says Trump gave a ‘compelling explanation’ about U.S. action against Iran Sen. Ted Cruz (R-TX) speaks alongside Sen. Lindsey Graham (R-SC) during a press conference at the U.S. Capitol Building on September 27, 2023 in Washington, DC. Anna Moneymaker | Getty Images Republican Sen. Lindsey Graham said that President Trump gave a “compelling explanation” on why the U.S. had to act against Iran’s “evil regime.” Graham said in a post on X that it was “the best speech I could’ve hoped for,” adding that it informed Americans and the world that the U.S. is “2-3 weeks from reaching our military objectives, which is the destruction of Iran’s missile and nuclear weapon programs.” He said that “the most compelling and biggest takeaway of all” was that Trump’s declaration to use military force to destroy the Iranian regime’s economy, guaranteeing “they will never go back to their old ways.” Sen. Ted Cruz in his post on X said the U.S. was “on the cusp of ending Iran’s nuclear blackmail,” which makes America “much, much …

Trump’s Iran speech ignores risks of a return to the 1970s

Trump’s Iran speech ignores risks of a return to the 1970s

Demonstrators hold posters of Ayatollah Khomeini outside the American Embassy which is occupied by ‘students following the Imam Khomeini’s line on November 16, 1979 in Tehran, Iran. Kaveh Kazemi | Hulton Archive | Getty Images President Donald Trump is taking a triumphal tone as he plans to address the nation Wednesday night about the Iran war. But there is reason to worry that the conflict and its economic consequences for Americans may get worse before they get better. If so, Trump will struggle to shake off the damaging political legacy of the war. In that he would join a long line of U.S. presidents going back to the 1970s who have seen their tenures defined by energy crisis and inflation — the economic scourge Trump has called a “nation-buster.”  “The oil shock of the ’70s was planted in the maybe subterranean part of our brains,” said Jay Hakes, a presidential historian who led the U.S. Energy Information Administration in the 1990s during the Clinton administration.  “It was there for a long time because it was …

U.S. to destroy Iran’s oil wells, Kharg Island if deal not reached

U.S. to destroy Iran’s oil wells, Kharg Island if deal not reached

Satellite view of Kharg Island, located in the Persian Gulf off the coast of Iran. Gallo Images | Gallo Images | Getty Images U.S. President Donald Trump said Monday that the U.S. will “completely” obliterate Iran’s electric generating plants, oil wells and Kharg Island if the strategically vital Strait of Hormuz is not “immediately” reopened and a peace deal is not reached “shortly.” “The United States of America is in serious discussions with A NEW, AND MORE REASONABLE, REGIME to end our Military Operations in Iran,” Trump said in a post on Truth Social. “Great progress has been made but, if for any reason a deal is not shortly reached, which it probably will be, and if the Hormuz Strait is not immediately “Open for Business,” we will conclude our lovely “stay” in Iran by blowing up and completely obliterating all of their Electric Generating Plants, Oil Wells and Kharg Island (and possibly all desalinization plants!), which we have purposefully not yet “touched.”” His comments come as the Iran war enters its fifth week and …