Iran has suspended negotiations with the United States in response to Israel's attacks on Lebanon, Iran's semi-official Tasnim News Agency reported Tuesday local time.
Tasnim, a hardline outlet linked to Iran's Islamic Revolutionary Guard Corps (IRGC), reported that "Israel's attacks on Lebanon are continuing" and that "Lebanon was one of the preconditions for a ceasefire, and considering that the ceasefire is currently being violated on all fronts including Lebanon, the Iranian negotiating team is halting 'talks and document exchanges through mediation.'"
The agency also called for an immediate halt to Israel's wars in Gaza and Lebanon and a complete withdrawal of Israeli forces from Lebanon, stressing that "there will be no negotiations until the positions of Iran and the Lebanese resistance forces are satisfied."
The outlet added that "Iran and allied armed groups in the region have placed the complete blockade of the Strait of Hormuz and the activation of other fronts, including the Bab el-Mandeb Strait in the Red Sea, on the agenda." This is interpreted to mean that Yemen's Houthi rebels could resume operations in the Bab el-Mandeb Strait, where they previously attacked passing ships.
International oil prices surged in response. According to Bloomberg, West Texas Intermediate (WTI) crude futures rose 7.8% to trade at $94 per barrel. Brent crude was trading at $96.85 per barrel, up 6.3%. The U.S. 10-year Treasury yield rose 0.062 percentage points to 4.514%, while the 30-year yield climbed 0.028 percentage points to 5.021%. U.S. stocks were trading mixed.
President Donald Trump wrote on Truth Social that "Iran sincerely wants to negotiate, and it will be a good deal for the United States and those with us." He also complained that he was finding it very difficult to do his job, with both Republicans and Democrats offering various pieces of advice on the Iran war. He added, "Just sit back and relax. As always, everything will eventually work out."
