State Department spokesperson Tommy Pigott stated that while the U.S. prefers a diplomatic resolution, it is prepared to impose further consequences if Iran refuses to negotiate, and he denied reports that Iran transferred $200 million to Hezbollah, attributing the group’s revenue instead to criminal activities.

Concurrently, Iranian officials are reportedly exploring new strategies to disrupt shipping and maintain elevated oil prices ahead of the U.S. midterm elections, although current crude oil prices have recently increased with WTI and Brent trading at $95.

17 and $106.89 per barrel, respectively.