US Iran Ceasefire: United States Secretary of War Pete Hegseth has characterized the ongoing Iran conflict as a ‘gift to the world.’ Hegseth asserted that the blockade of Iranian maritime traffic by USA would persist as long as it takes.
US Iran Ceasefire Updates
While addressing journalists at the Pentagon, Hegseth remarked that the naval restrictions imposed by America on the Islamic Republic of Iran are essential and justified to fulfil a bold and dangerous mission that is aimed at neutralizing Tehran’s perceived threat to international stability.
Iran’s Defence Ministry spokesperson Brigadier General Reza Talaei-Nik warned USA that Iran has yet to utilize a significant portion of its missile capabilities. The Iranian General went on to comment that Tehran’s armed forces are in complete control over the skies of the occupied territories until a ceasefire is reached.
DON'T MISS
Brent Crude Surges Past $110
The ongoing Middle East crisis and confusion over negotiations have pushed the prices of Brent Crude above $110 a barrel. US benchmark West Texas Intermediate (WTI) climbed above $112, its highest level since mid-2022.
The rise in Brent Crude prices is attributed to the fact that US President Donald Trump has sharpened his attacks on Tehran administration while “begging” for a peace deal and negotiations at the same time. Both the countries are at loggerheads on reopening of the strategic Strait of Hormuz.
Reacting to the threats of Trump, Iran warned it would not hesitate to target energy infrastructure across the Middle East and Persian Gulf. These threats by Tehran are likely to increase the risk of a broader regional disruption that would have far-reaching implications for global energy markets.
Now stretching into the 6th week, the US Israel Iran war has already rattled world’s financial and fuel markets. While the markets across the world are bracing for an immediate resolution, it is highly unlikely and the outcome may not necessarily transform to a dropdown in volatility levels.
