FTSE 100 Live: Stocks to slide as Iran and US clash over control of Strait of Hormuz Welcome back to City AM liveblog. Oil prices broke above $89 per barrel on Wednesday morning, notching the sixth consecutive sessions amid mixed signals around a potential deal between the US and Iran. The regime in Iran has said that the United States must end the war before they loosen their grip on the Strait of Hormuz, despite claims from Donald Trump that the US military was in complete control of the channel. Mohsen Rezaee, the new secretary of Iran’s Supreme National Security Council, said on social media that the “message is clear” that the narrow waterway will stay shut until the US agrees to terms and pulls back from the conflict. ”The Strait of Hormuz will not reopen until the US ends the war and blockade, releases Iran’s frozen assets, and agrees to a region-wide ceasefire, including in Lebanon and Gaza,” he said. It followed Trump dismissing Iran’s six conditions for reopening the strait, which included “payment in full” for damage inflicted on Iran throughout the war. “It is an interesting idea because now I am likewise demanding compensation from Iran,” Trump said, adding: “I have instructed my representatives to put this firmly into any, and all, future negotiations.” The President also said the US was only “semi-negotiating” with Iran. But in some relief to market’s hope for peace, the defence minister of Pakistan, which has been acting as an intermediary in talks, has said things were “shaping up again in favor of a peace arrangement”. “The signals in the last two three days are that we are close to some sort of an arrangement,” they added. We’ll be bringing you all the latest market developments and analysis. Here’s a few of our top headlines this morning - Trump speaks up for Infantino at last as Fifa boss fights world football rebellion - Heathrow overtaken by Istanbul as Europe’s busiest airport - Housebuilder Bellway calls for ‘immediate’ cut to stamp duty - Burnham to crack down on vape and betting shops - London AI car firm records surge in revenue on demand for driver-tracking software
FTSE 100 Live: Stocks to slide as Iran and US clash over control of Strait of Hormuz Welcome back to City AM liveblog. Oil prices broke above $89 per barrel on Wednesday morning, notching the sixth consecutive sessions amid mixed signals around a potential deal between the US and…
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According to a Downing Street spokesperson, Prime Minister Keir Starmer and U.S. President Donald Trump agreed on Monday to continue efforts toward a Ukrainian ceasefire and reaffirmed U.K. support for ongoing peace negotiations. The leaders also discussed Middle East security, emphasizing the Two-State Solution, the reopening of the Strait of Hormuz, and preventing Iran from acquiring nuclear weapons.
Downing Street stated that Prime Minister Keir Starmer and US President Donald Trump agreed on the importance of pursuing a ceasefire in Ukraine, with the Prime Minister expressing support for ongoing US-led peace efforts. Additionally, the UK reaffirmed its commitment to Middle East peace, emphasizing the Two-State Solution and the prevention of nuclear proliferation in Iran.
US officials report that intensified sanctions and a naval blockade have curtailed Iran’s oil exports and foreign currency access, according to regional sources. While these measures aim to compel Tehran to ensure free passage through the Strait of Hormuz, Iranian authorities remain defiant, with domestic resilience reportedly mitigating the intended economic impact.
Vladimir Putin held talks with senior U.S. representatives, described as key negotiators for President Trump, in an effort to restart peace negotiations regarding the Russia-Ukraine conflict. This diplomatic engagement represents a renewed attempt to facilitate a resolution to the ongoing war.