Trump Says Iran, Israel Looking To Do An Immediate Ceasefire — But Blockade To Remain In Place

• In another post on Truth Social, Trump also ordered both Iran and Israel to immediately stop shooting.
• Trump’s announcement comes after Iran and Israel exchanged fire over Sunday and the early hours of Monday, despite an ongoing ceasefire between the two countries.
• According to a report by Tasnim news agency, the Islamic Revolutionary Guards Corps claimed complete success in its strikes against Israel.

President Donald Trump on Monday announced that both Iran and Israel are looking to do an immediate ceasefire amid rising tensions in the Middle East.

Trump stated in a post on Truth Social that final negotiations on a peace deal are underway, but cautioned that any untoward incident could jeopardize the talks.

“The Blockade will remain in place, and in full force and effect, until a ‘Final Deal’ is reached. Things should move quickly,” he added.

In another post on Truth Social, Trump also ordered both Iran and Israel to immediately stop shooting.

Tensions Mount In The Middle East

Trump’s announcement comes after Iran and Israel exchanged fire over Sunday and the early hours of Monday, despite an ongoing ceasefire between the warring countries. Iran targeted Israel with multiple waves of missile launches late on Sunday in its first attack on the country since the ceasefire was announced in April this year.

According to a report by Tasnim news agency, the Islamic Revolutionary Guards Corps (IRGC) claimed complete success in its strikes against Israel. An Iranian military source told the agency that Iran is ready for a long-term war against Israel.

Meanwhile, according to a CNN report, Israeli Prime Minister Benjamin Netanyahu is said to convene the security cabinet to discuss the escalating hostilities with Iran. Israel also announced a major operation targeting Iran’s defense systems earlier on Monday, according to a report by Al Jazeera.

Crude Oil Prices Inch Up

Crude oil prices inched up on Monday as Iran and Israel exchanged fire. U.S. West Texas Intermediate (WTI) crude futures expiring in July were up 2.56%, hovering around $92.86 a barrel. Brent crude futures expiring in August rose 2% to hover around $94.95 a barrel.

The United States Oil Fund ETF (USO) was up about 2% at the time of writing, while the ProShares Ultra Bloomberg Crude Oil ETF (UCO) rose over 3%.

U.S. equities gained in Monday’s pre-market trade. At the time of writing, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was up 0.78%; the Invesco QQQ Trust ETF (QQQ) rose 1.45%; and the SPDR Dow Jones Industrial Average ETF Trust (DIA) gained 0.35%. Retail sentiment on Stocktwits regarding the S&P 500 ETF was in the ‘bullish’ territory.

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