The conflict involving Iran is nearing its one-hundredth day, with the United States and Iran remaining deadlocked over any potential ceasefire. Tehran has also asserted a claim, shared with Oman, over sovereignty of the Strait of Hormuz.
Following overnight clashes between Hezbollah and Israel in southern Lebanon, Iran continues to insist that a ceasefire in Lebanon must be achieved first before any agreement with the US can be reached. Concurrently, a military advisor to Iran's Supreme Leader, Mojtaba Khamenei, stated in a CNN interview that regarding reaching a deal, "the ball is in Trump's court," and insisted on the unfreezing of $24 billion in assets.
US President Donald Trump has for months maintained that Iran is nearing its breaking point. He told reporters on Friday, "We've had tremendous success with Iran," adding, "They're not going to be able to have a nuclear weapon."
Trump even downplayed the impact of rising oil prices, which have pushed gasoline prices higher. He said, "People thought it was going to be much worse. I saw today oil is at $96 a barrel, people thought it was going to be $300 a barrel."
On Friday, oil prices fell by more than 2%, with US crude dropping to around $90 per barrel, as US crude exports helped partially offset supply shortfalls.
The ongoing stalemate suggests Tehran believes it can withstand the current pressure for a longer period, while also betting that domestic political pressure in the US might compel American leaders to concede on some objectives.
Iran's Foreign Minister, Mohammad Javad Zarif, previously stated that although messages are still being exchanged through intermediaries, negotiations have not seen "substantial progress." Ship-tracking data indicated no commercial vessels were observed transiting the Strait of Hormuz on Friday morning.
An official familiar with US Central Command operations stated that over the past two months, US forces have tracked nearly 1,000 commercial vessels entering and exiting the Strait of Hormuz.
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