Trump weighs next Iran move as Pezeshkian vows economic response

Iraq has transported 2 million barrels of crude through the Strait of Hormuz using a very large crude carrier for the first time in decades. Oil Tanker Company Director General Ali Qais Abdul Jabbar believes this move could benefit SOMO by providing better sales and pricing opportunities. Iraq has obtained permission from Iran to transit its oil tankers through the strait, despite Iran effectively closing it due to its conflict with the US.

US Senator Chris Murphy visited Qatar and Saudi Arabia to assess damage from the US-Israel war on Iran and discuss efforts to end the conflict. Murphy stated that he was the first Democratic senator to visit the region since the war began. He visited officials involved in conflict resolution and aimed to gauge the impact of the war on US facilities.

Iranian President Masoud Pezeshkian announced that the government has implemented a new arrangement to navigate the country's unique circumstances amid intensified economic pressure. Iran's government and the public have thwarted what Pezeshkian described as an "economic war," preventing it from achieving its intended goals.

US President Donald Trump predicted that the conflict with Iran would conclude quickly, and subsequent oil prices would drop sharply once hostilities ended. He believed Iran faced severe economic and military challenges, such as high inflation and a lack of financial resources. Trump emphasized that Iran would ultimately end the conflict in one manner or another, with oil prices expected to decrease significantly following the resolution of the war.