TLDR
- Trump extended the Iran ceasefire until a new proposal is submitted and talks end.
- The US kept its naval blockade of the Strait of Hormuz after talks collapsed.
- Pakistan requested a pause on new US strikes while it continued mediation efforts.
- Iran said it would not reopen Hormuz while the US blockade remains in force.
- Brent crude stayed near $98, while Bitcoin rose above $78,000 after the truce extension.
President Donald Trump extended the Iran ceasefire just before it expired, while the US kept its naval blockade of the Strait of Hormuz. The move came after planned peace talks failed and Iran refused to attend a new round in Pakistan. Trump said the ceasefire would remain until Iran submits a new proposal and discussions end.
Ceasefire Extended After Planned Talks Collapse
Trump announced the extension in a Truth Social post. He said Pakistan, which is acting as a mediator, asked the US to hold off on fresh strikes. He added that the ceasefire would continue until Iran presents a new proposal and talks are concluded. The White House also confirmed that Vice President JD Vance would not travel to Pakistan on Tuesday.
Vance had been expected to resume talks with Iranian representatives. Iran, however, refused to attend and said US demands were unreasonable. Trump’s latest statement differed from his earlier comments. He told CNBC that he expected bombing if Iran did not meet US conditions.
In a phone interview on Monday, he also said it was “highly unlikely” he would extend the pause without progress. Iran’s semi-official Tasnim news agency said there was no prospect of Tehran joining negotiations now. Iranian officials also said the country did not request a ceasefire extension.
Hormuz Blockade Remains Central to the Standoff
The Strait of Hormuz remains at the center of the conflict. Trump wrote that “there can never be a Deal with Iran” without the blockade, unless the US used a wider force. Iran responded by saying it would not reopen the strait while the blockade remains.
Iranian media reported that its forces were on full alert. Fars News Agency cited a military statement saying troops had “their fingers on the trigger.” The latest comments showed that the military pressure remains even as the ceasefire continues. The conflict has moved back and forth since the two sides announced a two-week truce on April 7.
Since then, both governments have argued in public over terms. They have also alternated between opening and restricting Hormuz, a key route for global oil and gas shipments. Vortexa data showed that at least two fully laden Iranian tankers passed the blockade this week. The firm also tracked many Iran-linked vessels moving through the strait. That suggests Iran still has some export capacity despite US naval pressure.
Markets React as Uncertainty Continues
The ceasefire extension brought some relief to markets. Brent crude traded near $98 a barrel after rising sharply over two sessions. US gasoline prices also remained elevated at about $4 a gallon on average. Bitcoin rose with broader market confidence. It briefly climbed above $78,000, its highest level since Feb. 3. Ether also advanced, while S&P 500 futures gained more than 0.5%.
Pakistan Prime Minister Shehbaz Sharif thanked Trump for extending the ceasefire. He said he hoped both sides would continue to observe it and reach a permanent agreement during a second round of talks in Islamabad.
Still, the path forward remains unclear. Iran has rejected talks under threats, and the US continues to demand strict nuclear terms. With the blockade still in place and diplomacy stalled, the truce remains fragile.
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