Secretary of State Marco Rubio has said that the United States will not allow Iran to use America's economic situation as leverage to pressure President Donald Trump into making a bad deal. Speaking to NBC News on Thursday, Rubio emphasised that Trump is making it clear that if Iran thinks it can use domestic politics to force a bad agreement, that will not happen.
Israel and Lebanon Talks
Meanwhile, Israel and Lebanon have continued to trade blows as representatives for the countries took part in a day of direct discussions in Washington on Thursday. A senior US State Department official described the talks as productive and positive, with negotiations set to continue on Friday. Lebanon is expected to demand a ceasefire, according to a senior Lebanese official, while Israel will push for Hezbollah to disarm. The militant group has condemned the talks.
Strait of Hormuz Chaos
Chaos erupted in the Strait of Hormuz on Thursday as Trump sought China's backing to resolve the lingering crisis, with peace talks to end the conflict still on hold. Rubio stated that China had agreed that the vital shipping route should not be militarised. The British maritime security agency UKMTO reported that an unidentified ship was boarded by unauthorised personnel off the coast of the United Arab Emirates.
Oil Prices Rise
Oil prices rose this morning amid market concerns over ship attacks and seizures, despite Iran saying about 30 vessels had passed through the Strait of Hormuz. The US and Chinese presidents were set for a second day of talks in Beijing. Brent crude oil futures rose 60 cents, or 0.57 per cent, to $106.32 a barrel, while US West Texas Intermediate futures were up 54 cents, or 0.53 per cent, to $101.71. Yang An, analyst at Haitong Futures, said the main driver of oil prices was still tight supply. Oil prices swung several times yesterday but still closed near the day's high, he noted, adding that ships passing through the strait eased some market concerns but not enough to change the strong trend driven by tight supply.
Iran War Briefing
President Donald Trump says he will not be much more patient with Iran as he urged Tehran to reach a deal with Washington. US Trade Representative Jamieson Greer claimed that Chinese officials made clear at the US-China summit that Beijing wants to see the Strait of Hormuz reopen without restrictions or tolls and will act pragmatically to limit military support for Iran. Secretary of State Marco Rubio defended the war on Iran, claiming Tehran was building a massive missile and drone arsenal to eventually protect a nuclear weapons programme.
