President Donald Trump announced extension of the U.S.-Iran ceasefire until Tehran presents a unified negotiating proposal.
Vice President JD Vance’s planned trip to Islamabad was cancelled after Iran failed to respond to U.S. negotiating positions.
Iran’s foreign minister Abbas Araghchi warned that blockading Iranian ports constitutes an act of war, amid renewed Hormuz tensions.
Oil prices rose as the Strait of Hormuz remained partially closed, while U.S. stocks slipped lower on the news.