U.S. Extends Iran Ceasefire but Keeps Naval Blockade as Talks Stall

Overview

• The U.S., which extended the ceasefire Tuesday, ordered forces to keep a naval blockade on Iranian ports while waiting for a unified proposal from Tehran.
• Plans for Islamabad talks faltered as Vice President J.D. Vance suspended his trip and Iran declined to confirm a delegation, even as Pakistan pressed to mediate.
• Maritime risks grew in and near the Strait of Hormuz, with UKMTO reporting container ships fired upon and Iran’s Revolutionary Guard saying it seized two vessels.
• Iran’s state agencies called the continued blockade a continuation of hostilities and warned they could break it by force, while senior leaders said reopening the strait is impossible under what they call a ceasefire violation.
• Oil markets swung higher, with Brent settling above $100 a barrel, and the U.K. moved to gather about 30 countries to discuss a joint mission to protect shipping through the strait, a route that carries roughly one-fifth of global oil.