New Delhi summoned Iran's ambassador to protest the shooting of two Indian-flagged ships in the Strait of Hormuz, following Tehran's reimposition of shipping lane restrictions.
Iran appears to have concealed many operational aircraft within underground bases, enabling them to survive six weeks of conflict with the US and Israel.
President Trump stated that Iran must not "blackmail" the US by constantly changing its stance on the Strait of Hormuz, but added that the two sides are engaged in dialogue.
The month-long blockage of the Strait of Hormuz has stranded 500 million barrels of oil, resulting in a 50 billion USD loss for the global energy market.
Damage from conflict and US blockades has likely pushed Iran to compromise, reopening the Strait of Hormuz to salvage its economy, according to experts.
Many cargo ships are not ready to transit the Hormuz Strait after Iran reopened it, apparently due to concerns about mines and a lack of safety guidance.
US President Donald Trump claims he is not opposing Pope Leo XIV, but then inaccurately states the Vatican leader once said "Iran could possess nuclear weapons".
Brent crude traded around 98 USD per barrel, up nearly 5%, while the S&P 500 and Nasdaq Composite indices achieved new highs for the second consecutive session.
The prime minister of the United Kingdom and the president of France will chair a meeting with leaders from around 40 countries to discuss efforts to reopen the Strait of Hormuz.
President Trump states a peace deal between Washington and Tehran is "very close," saying Iran has agreed to surrender its stockpile of enriched uranium.
