Here's the latest
• Diplomacy push: Iran is expected to respond today to the US proposal to end the war, moving closer to an agreement on a short memorandum, sources told CNN. Yesterday, President Donald Trump said the US had “very good talks” with Iran over the previous 24 hours.
• Naval standoff: Tensions at sea remain high. Yesterday, the US military fired on an Iranian-flagged tanker heading to an Iranian port, enforcing its blockade. The action came hours after Iran launched a body it said will govern traffic through the Strait of Hormuz, its latest effort to formalize control over the trade chokepoint in defiance of US warnings.
• Lebanon truce takes strain: Israel targeted a top Hezbollah commander in the first strike in Beirut since the ceasefire in Lebanon, Prime Minister Benjamin Netanyahu said, underscoring the fragility of the truce.
Oil prices continue their slide on growing hopes for US-Iran deal
Oil prices are falling today, advancing yesterday’s slump, on signs that the United States and Iran are moving closer to a deal that may reopen the vital Strait of Hormuz.
Brent crude, the global oil benchmark, was 1.5% lower at $99.8 a barrel, having settled almost 8% lower on Wednesday. WTI, the US benchmark, fell by a similar margin to $93.5 a barrel.
Oil prices have been on a wild ride this week. On Monday, Brent settled at its highest price so far this year, before tumbling yesterday. Crude prices are still more than a third higher than they were before US-Israeli attacks on Iran began on February 28.
“Even if we get a deal over the coming days, we do not see oil prices going back to pre-war levels,” Mohit Kumar, chief European economist at Jefferies, wrote in a morning note. The investment bank sees Brent crude priced at “around $80” in three- to six-months’ time, about 25% above pre-war levels.
Rubio will meet with the Pope today amid Trump's spat with the pontiff over Iran
US Secretary of State Marco Rubio will sit down with Pope Leo XIV today. CNN’s Christopher Lamb explains what’s at stake after the US-born pontiff faced criticism from President Donald Trump for opposing the Iran war:
CNN's Christopher Lamb breaks down Pope Leo's response to President Donald Trump's saying that the US-born pontiff is "endangering a lot of Catholics" with his stance on the Iran War.
Why Iran is using memes and AI-generated content to troll Trump
As Iran continues to release AI-generated Lego videos mocking President Donald Trump, analyst Peter Pomerantsev told CNN’s Jake Tapper the videos serve multiple purposes.
With 1,600 ships stuck near Strait of Hormuz, shipping companies calculate the dangers
About 1,600 ships are still stuck near the Strait of Hormuz, with shipping companies facing an expensive and risky situation, looking for windows of opportunity to leave the waterway for more than two months.
President Donald Trump’s operation to “guide” ships through the strait lasted just 48 hours. Only two ships were guided through.
Now, on their own again, companies are unwilling to bear the risk of transit — letting ships leave would endanger both cargo and personnel.
Any damage to a multimillion-dollar ship would set companies back financially and logistically. Insurers have wartime clauses in their contracts that do not require them to cover vessels stuck in the middle of a war. So, moving ships without that financial backing risks being extraordinarily costly.
Thirty-two ships have been hit with missiles since the beginning of the war, resulting in 10 deaths and at least a dozen injuries, according to the International Maritime Organization, or IMO. The IMO continues to urge ships to “exercise maximum caution” and says that “naval escorts are not a sustainable long-term solution.”
Iran has been carrying out the fastest wave of political executions in recent history
In just seven weeks, at least 28 people have been put to death on political, protest-related, or espionage charges in Iran, according to a US-based human rights group. CNN’s Clarissa Ward reports:
Since the war in Iran began, the country has been carrying out the fastest wave of political executions in its recent history, with at least 28 people who have been put to death on political, protest-related, or espionage charges, according to a US-based human rights group. CNN’s Clarissa Ward reports.
Pro-Iran rally erupts in Tehran, as protesters question whether Trump will strike again
Crowds gathered in Tehran on Wednesday night, waving flags and chanting “down with Israel” during a rally in support of the country’s leadership.
Music and singing filled the streets as Iranian people waved phone lights, pumped their fists in the air and held pictures of Iran’s former Supreme leader Ayatollah Ali Khamenei, who was killed during a joint US-Israeli airstrike in February.
Rahmatpour, and others at the event, questioned whether US President Donald Trump would launch further attacks on Iran, amid ongoing negotiations between the two countries.
“In my opinion, Trump doesn’t have the guts (to attack again), because we are a superpower ourselves and I don’t think they will attack us anymore,” Rahmatpour said, according to Reuters.
“If they attack again, it’s foolishness again, so it depends, he (Trump) is capable of such a thing (to attack again) on whether they can do such a thing, but I hope not.”
We're expecting Iran's response to a US peace proposal today. Here's what to know
The United States and Iran are moving closer to an agreement on a short memorandum that aims to end the war, with Tehran expected to hand over its response to mediators today, according to sources.
US President Donald Trump said yesterday that the US has had “very good talks” with Iran over the previous 24 hours. But he also threatened the resumption of bombing if Iran doesn’t agree to a deal.
If you’re just dropping in, here’s what to know:
- The potential deal: The one-page memo would declare an end to the war and trigger a 30-day period for resolving sticking points including nuclear issues, unfreezing of Iranian assets and security in the Strait of Hormuz, one source told CNN. Trump told PBS News any potential deal would include Tehran shipping its highly enriched uranium to the US and pledging not to operate its underground facilities.
- Israel’s role: Israeli Prime Minister Benjamin Netanyahu held talks with Trump administration officials yesterday to better understand the developments in negotiations between the US and Iran, according to an Israeli source. Israel is concerned about potential last-minute US concessions, the source said. Read more about Israel’s concerns here.
- Beirut strikes: Israel targeted a top Hezbollah commander yesterday in the first strike on the capital since the start of the ceasefire in Lebanon, underscoring the fragility of the truce.
- Hormuz crisis: Yesterday, the US military fired on an Iranian-flagged tanker heading toward an Iranian port, enforcing its blockade. The action came hours after Iran launched a body it said will govern traffic through the Strait of Hormuz, its latest effort to formalize control over the trade chokepoint. French President Emmanuel Macron, meanwhile, encouraged countries to join a multinational mission seeking to secure shipping in the strait after a call with his Iranian counterpart.
CNN’s Joseph Ataman, Mitchell McCluskey, Dana Karni, Thomas Bordeaux, Alejandra Jaramillo, Kit Maher, Max Saltman, Nic Robertson, Alayna Treene, Kevin Liptak and Tal Shalev contributed reporting on this post.
