US President Donald Trump said Washington’s ceasefire with Tehran is on “massive life support,” a day after he rejected Iran’s terms for ending the war and reopening the Strait of Hormuz.
Oil prices ticked back up on Monday as the countries’ standoff deepened; both sides have signaled they are dug in on their stances.
It’s unclear whether Trump would resume military attacks on Iran, though the US Navy advertised the arrival of a nuclear-armed submarine near the Mediterranean, widely interpreted as a warning to Tehran.
As concerns over global energy supply ballooned, Trump on Monday backed suspending the federal gas tax to ease the strain on Americans’ wallets at the pump.