Trump says Iran talks to continue, but ceasefire is 'over'

President Donald Trump announced that the U.S. and Iran have agreed to resume talks, but he firmly stated that a recent ceasefire is no longer in effect. The declaration follows a week of heightened tensions in the Gulf.

Earlier this week, three commercial tankers faced attacks, prompting the U.S. to strike Iranian sites. Iran retaliated with strikes on U.S. military installations in neighboring Gulf states. No attacks were reported on Friday.

In a social media post, Trump wrote, "The Islamic Republic of Iran has asked us to continue 'talks.' We have agreed to do so, but the United States has stated to them, in no uncertain terms, that the Cease Fire is OVER!"

This exchange occurred after an interim deal was reached last month to end a four-month conflict that had caused thousands of deaths and disrupted global energy supplies. Daily tanker traffic through the critical Strait of Hormuz, which handles about a fifth of global oil supplies, has slowed due to the hostilities.

Qatari negotiators were meeting with Iranian officials on Friday to de-escalate tensions and discuss navigation through the Strait of Hormuz. The talks aim to address the implementation of a U.S.-Iran memorandum of understanding and the issues that triggered the recent escalation. Iran's semi-official Tasnim news agency reported that Doha is seeking to solidify its role as a mediator.

Oil prices saw a slight decrease on Friday but were still on track for a 5% weekly gain following the hostilities. The UN shipping agency's governing council has condemned Iran's attempts to assert sovereignty over the Strait of Hormuz and its decision to control traffic through it.

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The Islamic Republic of Iran has asked us to continue 'talks.' We have agreed to do so, but the United States has stated to them, in no uncertain terms, that the Cease Fire is OVER!