Crude Spikes As Trump Declares 'We Don't Need A Deal' With Iran

What happened: President Trump said the United States does not need a deal with Iran, stating "those days have long since passed," and said he has tasked Vice President JD Vance with leading a domestic crackdown instead. Why it matters: The comments appear to end the Vance negotiation initiative reported by the WSJ, and the content says the Strait of Hormuz situation will likely worsen as the IRGC ramps up targeting of international shipping. Coverage: 3 outlets in 24h

President Trump said the United States does not need a deal with Iran, stating "those days have long since passed," and said he has tasked Vice President JD Vance with leading a domestic crackdown instead.

The comments appear to end the Vance negotiation initiative reported by the WSJ, and the content says the Strait of Hormuz situation will likely worsen as the IRGC ramps up targeting of international shipping.