Crude Spikes As Trump Declares 'We Don't Need A Deal' With Iran
President Trump has begun his Thursday morning with statements saying that the United States no longer sees a need to negotiate a diplomatic agreement with Iran.
"We don't need a deal with Iran," the president stated, saying further: "Those days have long since passed."
He argued that Washington already holds decisive leverage, pointing to hundreds of billions of dollars in frozen Iranian assets and US control over the Strait of Hormuz.
The comments come amid broader signals of a pivot within the administration's priorities. Rather than focusing on diplomatic outreach with Tehran - efforts which Vice President JD Vance has previously been a key part of - Trump announced that he has tasked Vance with leading a domestic crackdown on what he described as "massive corruption" in Democratic-led U.S. cities.
Oil prices jumped on the return to 'no deal' news...
And meanwhile:
Iranian Army says two tankers struck naval mines while passing through the Strait of Hormuz, ISNA reports
It seems Trump was in part responding by the Truth Social post to yesterday's headline in The Wall Street Journal saying Vance was seeking direct talks with Iranian 'hardliners'.
"Vice President JD Vance is considering face-to-face talks with a top Iranian security official as he emerges as the lead negotiator with Iran, say U.S. and Middle East officials and people familiar with the negotiations, in an effort to end a war seen as a drag on the Republican Party," that Wednesday report stated.
"In recent days, President Trump has told top aides and counterparts he’s open to Vance restarting talks with Iran and has empowered him to negotiate, U.S. and Middle Eastern officials said. U.S. officials stressed that discussions about sending Vance to meet directly with Iranian officials remain preliminary," WSJ reported.
So with Trump's Thursday words, that initiative is effectively dead, it appears. Meanwhile things will likely continue to go from bad to worse in the Strait of Hormuz, as the IRGC has ramped up targeting of international shipping which violates Tehran's transit protocol. Attacks, especially via sea mines, are happening at a rate of at least a half-dozen instances per week.