US President Donald Trump is unhappy with Iran’s latest proposal to end the conflict that began on February 28. “He doesn’t like the proposal,” a US official said early Tuesday, detailing that the president is not satisfied with it because it does not address the nuclear program. Meanwhile, the situation remains tense in the Strait of Hormuz. US Central Command reported overnight that a Navy destroyer stopped an Iranian-flagged oil tanker after it attempted to head to an Iranian port. Oil prices extended gains this Tuesday, while stock markets traded stable amid limited progress in the reopening of the Strait of Hormuz.
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Good morning. We begin our live coverage of the latest on the war against Iran, this Tuesday, April 28. US President Donald Trump is unhappy with Iran’s latest proposal to end the conflict that began on February 28. “He doesn’t like the proposal,” a US official said early Tuesday, detailing that the president is not satisfied with it because it does not address the nuclear program.
We are also keeping an eye on the situation in Lebanon, a day after the Israeli army bombed the Beqaa Valley, in the east of the country, for the first time since the start of the temporary ceasefire. The Israeli offensive has already caused more than 20 deaths in Lebanon since Sunday.
WAR AGAINST IRAN
Why no one can afford Hormuz to be closed by summer
One of Japan’s main television networks broadcast last weekend the arrival of a ship full of oil from the United States. These images, which at any other time would be anecdotal in a country that receives many such vessels every week, have become front-page news. Without crude oil from the Persian Gulf, which is under a double blockade ―from Tehran and Washington―, Japan’s refineries are starting to run dry.
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Oil extends gains and stock markets trade stable with no progress in Iran
Oil prices extended gains, while stock markets traded stable amid limited progress in the reopening of the Strait of Hormuz. Brent crude rose 1.4% to $109, its highest level in three weeks. The White House stated that the United States is reviewing Iran’s latest proposal to resolve the war, but a US official said President Donald Trump is not satisfied with the proposal because it did not address Iran’s nuclear program. This leaves the two-month-long conflict at a stalemate, with energy supplies through the crucial Strait of Hormuz paralyzed. Markets await clarity on peace talks.
US futures recorded slight gains and the EuroStoxx 50 pointed to moderate gains at the European open. In Asia, the MSCI index, the broadest index of Asia-Pacific shares excluding Japan, fell 0.22%. Chinese shares fell, as did Japan’s Nikkei, which dropped almost 1%. The Bank of Japan (BoJ) kept interest rates unchanged, as expected by the market, but warned of an economic growth slowdown and rising inflation due to the impact of the war in the Middle East.
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