U.S. Pursues Iran Talks After 3 Vessel Attacks as Trump Says Ceasefire Is Over
Updated
Updated · CNBC · Jul 10
U.S. Pursues Iran Talks After 3 Vessel Attacks as Trump Says Ceasefire Is Over
3 articles · Updated · CNBC · Jul 10
Summary
Technical talks with Iran will go ahead, a U.S. official said, even after Trump declared last month’s ceasefire “over” and recent U.S.-Iran strikes deepened the rupture.
Three commercial vessels were attacked in the Strait of Hormuz, prompting renewed U.S. offensive strikes that Washington said were retaliation for what it called Iranian “acts of terrorism.”
Trump said Iran had called seeking a deal to halt the escalation, but he questioned whether Tehran would honor any agreement under the performance-based memorandum of understanding.
Iran accused Washington of breaching the MOU through threats of further strikes, interference with its Strait of Hormuz adjustments and the U.S. move to restore oil sanctions by withdrawing a sales waiver.
Oil markets stayed relatively calm despite the flare-up, with Brent for September at $76.3 a barrel and WTI at $71.87 in Friday Asia trading.
With the ceasefire dead, are renewed U.S.-Iran strikes the prelude to all-out war or a violent renegotiation?
Will the world’s most vital oil chokepoint become a toll road under Iranian control?
U.S.-Iran Military Escalation in July 2026: Strait of Hormuz Blockade Sparks Global Oil and Gas Price Surge
Overview
As of July 9, 2026, the U.S.-Iran ceasefire is collapsing, leading to a sharp escalation in military tensions. After Iran bombed ships, President Trump signaled imminent strikes and warned of harsher actions if further incidents occurred. Despite this, he allowed negotiations to continue, though he did not expect a long-term military campaign. The situation worsened when Washington revoked sanctions waivers, cutting off Iran’s ability to export crude oil. In response, Iran’s chief negotiator accused the U.S. of violating recent agreements. These developments have pushed both sides closer to open conflict, with the risk of further escalation growing rapidly.