Trump says Iran ceasefire deal has ended after U.S. strikes

Oil eased in early trading but stayed on track for weekly gains as renewed U.S.-Iran strikes strained the ceasefire, delayed full Strait of Hormuz reopening and raised market and political risks.

18d ago

Fact Check

Multiple independent authoritative outlets confirm the claim. Al Jazeera reports Trump declared the ceasefire 'over' at the NATO summit in Ankara after the US and Iran exchanged strikes. CNBC confirms Trump told the NATO summit he thinks the Iran ceasefire is over on July 8, 2026. CNN, BBC, and CBS corroborate the exchange of attacks and violation of the truce, and Al Jazeera notes negotiations/talks on ending the war were still contextually referenced, consistent with the claim that neither side had immediately signalled an end to negotiations.

Summary

President Donald Trump said the ceasefire with Iran had ended after attacks on shipping in the Strait of Hormuz, while the United States and Iran continued exchanging strikes, keeping markets focused on the risk of wider disruption. Oil prices slipped slightly in early Friday trading, with Brent at $76.24 and WTI at $72.04 by 0125 GMT, but remained on track for weekly gains of about 6% and 5% respectively as supply risks persisted and the full reopening of the Strait of Hormuz was delayed. Politico reported on July 10 that the United States struck at least 170 Iranian military targets within 48 hours, while Iran retaliated against U.S. bases; earlier reporting had cited 90 U.S. targets. The conflict also added domestic political pressure, with some Republicans warning that higher oil prices and a planned $67 billion war supplement could become a midterm liability.

Terms & Concepts

Strait of Hormuz: A narrow Gulf waterway critical to global oil and gas shipments, making any military disruption there highly sensitive for energy markets.
Brent crude futures: Contracts tracking the main international oil benchmark price.
WTI: West Texas Intermediate, a key U.S. oil benchmark.