Trump says US not seeking MOU extension with Iran as Brent crude oil tops $91 per barrel

Oil prices crept up in early trading on Wednesday for a fourth session in a row as uncertainty over crude supplies continued, Reuters reported.

Investors were also assessing conflicting statements from Tehran and Washington over whether the Strait of Hormuz remained open to commercial shipping, the outlet said.

Brent crude futures rose 26 cents, or 0.29%, to $91.28 a barrel by 12:04 a.m. GMT. U.S. West Texas Intermediate crude futures gained 37 cents to trade at $85.31 a barrel.

Both benchmarks had finished Tuesday at their highest levels since July 24, supported by low expectations of a peace agreement between the United States and Iran.

President Donald Trump said Tuesday that no negotiations were underway with Iran and that the strait remained open.

Iran’s parliamentary speaker, Mohammad Bagher Ghalibaf, said that Hormuz would remain closed until the U.S. met its commitments under the MOU.

Iraq approved a temporary mechanism to export crude oil through international and local companies and multiple export outlets, Reuters reported Tuesday.

This came as tensions over the Strait of Hormuz amid the Iran war disrupted regional oil flows and the key shipping route.

The contracts will run for three months beginning Sept. 1, the outlet said.

The move is aimed at giving Iraq greater flexibility in marketing its crude and reducing its reliance on Gulf shipping routes, through which most Iraqi oil exports currently pass via southern terminals.

Iraq, the Organization of the Petroleum Exporting Countries' (OPEC) second-largest producer, has also been developing alternative export routes through Turkey and Syria.

Iran has fewer paths forward as its conflict with the United States continues, retired U.S. Marine Col. Mike Jernigan said Tuesday, arguing that the pressure could push Tehran toward an “end game.”

“Iranians are running out of assets and options,” Jernigan said on “America Reports.”

“The economy before this all started was ranked either 23rd or 52nd, depending on the measure,” he said. “They're behind Nigeria and Bangladesh. Bangladesh, known for cyclones and mudslides, had a stronger economy than Iran did before all this started.”

“They are struggling with the economic consequences, and so I think this is moving toward its end game,” he said.

But he said negotiations could be complicated by Iran's new leaders.

“The IRGC is a maximalist negotiator,” Jernigan said. “They want to keep nuclear weapons. They want to control the Straits of Hormuz.”

Jernigan argued that the Strait of Hormuz “is not closed; it’s closed to Iran.”

“10 to 15 ships are getting through every day, and that's because of the queuing to come through to have your papers checked by the United States Navy.”

“If the president decides to resume kinetic strikes, there are 5,000 targets that have already been struck,” he said. “We have 20% left. Those are the energy infrastructure. That's going to cause a problem.”

Jernigan'S remarks came as President Donald Trump said Tuesday that there was no ongoing dialogue with Iran to end the war and that no discussions were scheduled. 

The U.S. State Department’s Rewards for Justice program said Tuesday it is offering up to $10 million for information about five men accused of hacking and data theft targeting the United States and its allies for the Iranian regime.

“These men conduct hacking and data theft against the United States and its allies on behalf of the Iranian government,” Rewards for Justice said in a post on X, urging people with information to submit a tip.

The program named the men as Behzad Mesri, Keyvan Fayyaz, Mojtaba Ghaleh-Kuh, Arman Kahzadian and Saber Shahbazi.

It said they were affiliated with Iran’s Ministry of Intelligence and Security and the Islamic Revolutionary Guard Corps (IRGC) and had targeted “numerous segments of U.S. critical infrastructure with malicious cyber activity.”

The Israel Defense Forces (IDF) said Tuesday that it targeted commanders and operatives in Hamas’ Nukhba force while they were meeting in the Gaza Strip.

The military struck near the Gaza City port. One of the terrorists targeted, the IDF said, had participated in the Oct. 7, 2023, attack.

The military also said the targets included a Nukhba force company commander, three platoon commanders and several other terrorist operatives who were planning attacks against Israeli troops operating in the Strip.

The Nukhba force, Arabic for “the elite,” is the special forces unit of the Al-Qassam Brigades, Hamas’ military wing.

Handpicked operatives in the unit are trained to carry out complex attacks, including raids, ambushes and cross-border tunnel infiltrations

Secretary of State Marco Rubio announced Tuesday that the U.S. imposed sanctions on two senior International Criminal Court officials, escalating the Trump administration’s campaign against the Hague-based court.

“Last month, I launched a diplomatic campaign to dismantle the ICC’s threat to our national sovereignty,” Rubio said in a post on X.

“The Trump Administration is sanctioning ICC President Tomoko Akane and Senior Trial Lawyer Abdoulaye Seye in our unwavering mission to protect Americans from this sham of a court.”

The action follows U.S. sanctions on other ICC officials over the court’s arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former Israeli Defense Minister Yoav Gallant, as well as its past investigation into alleged crimes involving U.S. troops in Afghanistan.

Rubio said Akane and Seye engaged in efforts by the ICC to investigate, arrest, detain or prosecute officials whose governments have not consented to ICC jurisdiction.

The sanctions block any U.S. assets they may hold and generally bar Americans and U.S. entities from conducting transactions with them, Reuters reported Tuesday.

Iran’s new security chief declared any U.S. dominance in the Persian Gulf over Tuesday, taunting Washington claiming its inability to fully reopen the Strait of Hormuz.

“The gap between America’s inability to reopen the Strait of Hormuz and its claim to own it is greater than the 7,000-mile distance between Washington and the Strait itself,” Mohsen Rezaei said in a post on X.

“Welcome to the post-American order in the Persian Gulf,” he added.

Rezaei accompanied the post with a map showing a line between Washington and the Strait of Hormuz over the caption, “Some Dreams Are Too Far From Reality.”

Rezaei, a former commander of Iran’s IRGC, took over as secretary of the country’s Supreme National Security Council last week.

President Donald Trump said Tuesday that the strait was “open and operating” and the naval blockade of Iranian ports was “in full force and effect.”

Diplomatic efforts also appeared stalled, with a 60-day U.S.-Iran negotiating period ending Aug. 17. Trump also said Tuesday that no new talks with Tehran were planned.

The United Kingdom Maritime Trade Operations (UKMTO) Center reported Tuesday that a second vessel was struck in the Strait of Hormuz.

According to the UKMTO, the ship was hit with an "unknown projectile" that damaged the starboard side and killed one crew member.

Authorities are investigating, the UKMTO said.

Earlier on Tuesday, the UKMTO announced that a separate was vessel moving through the strait near the Omani coast was hit. That strike also killed a crew member.

Retired Rear Adm. Mark Montgomery said President Donald Trump’s threat Monday to bomb Oman if it interfered in U.S.-Iran talks was “overdone.”

During an appearance on Fox News’ “America’s Newsroom,” Montgomery discussed Oman’s role in the conflict, particularly its influence over negotiations surrounding the Strait of Hormuz.

"I think [Trump's] warning was overdone," Montgomery said. "But the president was attempting to remind [Oman] that they should adhere to international law when having any discussions with Iran."

"[Iran and Oman] can speak to each other. They should not make some kind of deal where they control the Strait of Hormuz or they toll it. I'm not sure Oman is attempting to do that," he said.

"Oman is long term ally and partner of the United States. I think they've been helpful for us in creating a southern transit scheme through their waters over the last four months," he added.

U.S. Central Command posted a photo Tuesday of soldiers unloading cargo from a U.S. Army helicopter that landed at an airfield in the Middle East.

The tandem rotor helicopter seen in the photo, the CH-47 Chinook, is used by as many as 20 countries as a "multi-mission aircraft," according to manufacturer Boeing.

It can hold up to 36 troops and its top speed is nearly 190 mph, according to the U.S. military.

The United Arab Emirates announced Tuesday that Iran launched two ballistic missiles toward the nation, an ally of the United States.

Tehran has not publicly confirmed the launches.

"UAE air defenses detected two ballistic missiles launched from Iran toward the country, with the first falling outside the country's territorial waters, while the second fell within the territorial waters," the UAE's Ministry of Defense said on social media.

The defense ministry said it is on "high alert" and "fully prepared to deal with any threats."

The ministry urged citizens to "obtain all news from official sources in the country and to avoid rumors and false information."

President Donald Trump called the president of the United Arab Emirates (UAE) on Tuesday to discuss cooperation opportunities and "ways to further strengthen ties in support of mutual interests," according to UAE state media.

Trump and UAE President Mohamed bin Zayed Al Nahyan also "exchanged views on the latest developments in the Middle East and ongoing efforts to address them," according to the state media report.

On Saturday, the UAE Foreign Ministry accused Iran of attacking an ADNOC-affiliated vessel as it transited the Strait of Hormuz on Friday. It was the third reported attack involving ADNOC vessels in less than a week, all of which the UAE has blamed on Iran.

The USS Benfold, a guided missile destroyer, went without power for four days in the South China Sea last month, Fox News has learned.

The outage, which began on July 24, impacted drinking water, shower water, toilets, and air conditioning, according to Cmdr. Matthew Comer, a spokesperson for the U.S. 7th Fleet.

The cause of the outage is still under investigation, but Comer said there was an engineering issue with the ship's generators.

The USS Robert Smalls, another guided missile destroyer in the area, provided meals to the sailors onboard the Benfold while tugboats towed it to the Subic Bay in the Philippines for repairs.

The Benfold departed Subic Bay on Aug. 8 with "all engineering, combat systems, and crew support systems functioning normally to resume routine operations," Comer said.

"There were no injuries to the crew, who demonstrated resilience, grit, professionalism, and unwavering steadiness in their response," Comer added.

The Benfold received direct support from the USS George Washington Carrier Strike Group.

The Wall Street Journal reported last week that the strike group's aircraft carrier is headed to the Middle East to relieve the USS Abraham Lincoln after its prolonged deployment during the war with Iran.

The Lincoln has spent more than eight months deployed, prompting concerns about the strain on its sailors.

Fox News' Liz Friden contributed to this post.

Brent crude oil, the world benchmark for the commodity, surged past $91 per barrel late Tuesday morning.

The spike comes after President Donald Trump wrote on Truth Social earlier Tuesday that there are "no talks or conversations going on, or scheduled, with the Islamic Republic of Iran."

Brent crude had been hovering just above $90 per barrel, already an nearly 2% increase since Monday.

West Texas Intermediate (WTI) crude, the U.S. benchmark, has climbed since Monday, rising from around $82 per barrel to above $85 on Tuesday.

A U.S. defense policy expert told Fox News that President Donald Trump's threat to Oman showed that he's "frustrated" with the Gulf ally's ongoing talks with Iran about the Strait of Hormuz.

Rebeccah Heinrichs, a senior fellow at the Hudson Institute, joined Fox News' "America's Newsroom" Tuesday morning to contextualize Trump's recent threat to bomb Oman if the country interfered in U.S. negotiations with Iran.

"Clearly, President Trump is very frustrated with the Omanis. The Omanis are an ally of the United States, but if the Omanis are suggesting that they may be okay with the Iranians doing things like demanding tolls of the strait, clearly that's not going to work for President Trump," Heinrichs said.

"He's making that very clear that the Iranians under no circumstances, with Oman or not, they cannot control the strait at all," Heinrichs added.

She also said Trump's preferred strategy on dealing with the Iranians is to "dry up" their ability to reconstitute their military by maintaining the naval blockade, increasing sanctions and getting as many ships as possible through the strait near Oman's coast.

Saudi Aramco, the world's top oil exporter, resumed loading crude from within the Strait of Hormuz last week, Reuters reported.

Saudi Arabia's national oil company halted oil sales for weeks after its tanker fleet was attacked in the strait last month during a flareup between the United States and Iran.

Saudi Aramco reportedly has more tankers waiting to load and is offering heavy crude cargoes on the spot market for near-term delivery, Reuters reported, citing shipping data and trade sources.

Asian refiners were offered these heavy crude cargoes as recently as Monday, Reuters reported.

Reuters contributed to this post.

President Donald Trump said Tuesday there are "no talks or conversations going on, or scheduled, with the Islamic Republic of Iran."

"The Naval Blockade remains in full force and effect. The Hormuz Strait is open and operating. All water mines have been removed or detonated," Trump wrote on Truth Social.

There were 28 confirmed crossings through the Strait of Hormuz from Friday to Sunday, according to data from Kpler. Before the Iran war started in late February, an average of 130 ships crossed the strait every day, according to the Congressional Research Service.

Trump's latest comments on the Iran conflict come after he told Fox News on Monday that the administration has a back channel with top officials in Iran’s Revolutionary Guard (IRGC).

Jared Kushner, Trump's son-in-law and one of his top advisors, also told Fox News on Monday that "conversations between the U.S. government and in different areas of the Iranian government and in all areas is probably more robust than it's maybe ever been."

"We are having very positive and active conversations," Kushner added.

U.S. Ambassador to Turkey Tom Barrack said the United States is "deeply concerned" that Israeli airstrikes on Abu al-Duhur Airbase in Syria "constitute an unnecessary escalation that does not advance regional stability."

Syrian President Ahmed al-Sharaa has not "adopted a predatory posture nor maintained proxy forces" and has "repeatedly indicated a preference for de-escalation with Israel," Barrack said.

Barrack said the U.S. "continues to believe that restraint and engagement offer the more constructive course," urging all parties "to prioritize logical discourse over further military incidents."

In a statement to Fox News, a senior Israeli official said "highly sensitive intelligence was shared with the United States in advance" of the strike on the air base.

“Al-Sharaa understands that he cannot operate like the previous Syrian regime, which maintained proxy forces. It’s possible that he didn’t understand what was going on, or didn’t know,” the Israeli official said.

Prime Minister Benjamin Netanyahu’s office also said in a statement that Israel and Syria had agreed to a status quo in security matters, which Syria "was on the verge of breaching by permitting Turkish troops to deploy at an airbase near Aleppo."

Israel “repeatedly warned Syria that such a deployment would pose a threat to Israel’s security,” the ministry said in a post on X.

“Syria chose to ignore these warnings,” it said before adding that Israel will not tolerate “threats to its security, and would welcome a return to the status quo.”

Al-Sharaa, formerly the head of Al Qaeda's affiliate group in Syria, became the country's new leader in January 2025 after he led rebel forces that ousted Bashar al-Assad from power.

President Donald Trump has expressed strong support for al-Sharaa's government, including by lifting broad economic sanctions on Syria in late June.

Fox News' Trey Yingst contributed to this post.

President Donald Trump shared an image of a map on social media Tuesday labeling the Strait of Hormuz a "new U.S. territory."

He shared the map on Truth Social without additional comment.

Trump's latest post quickly drew a rebuke from Kazem Gharibabadi, Iran’s deputy foreign minister for legal and international affairs.

"Soon his delusion regarding the Strait of Hormuz will either be corrected or we will correct the delusions of this deluded man," Gharibabadi posted on X.

Trump first floated the idea of the strait becoming a U.S. territory during a Aug. 14 speech at a police academy on Long Island, New York.

“After we finish defeating Iran, which is being very badly defeated, pretty soon I’ll be declaring the Hormuz strait a territory of the United States,” he said.

Iran's parliamentary speaker, Mohammad Bagher Qalibaf, claimed Tuesday that Iran's Islamic Revolutionary Guard Corps will maintain control over shipping traffic in the Strait of Hormuz until the United States agrees to its conditions.

“Until the United States fulfills its commitments under the agreement, including lifting the blockade, releasing frozen assets, lifting oil sanctions, ending threats and military operations on all fronts, and implementing the other conditions to which it committed, the Strait of Hormuz will not reopen,” Qalibaf said, according to The Associated Press.

Iran laid out this list of demands to reopen the strait on Aug. 8. Meanwhile, the U.S. is maintaining its naval blockade on Iran’s ports while demanding unrestricted international traffic through the strait.

The Associated Press contributed to this post.

A ship transiting the Strait of Hormuz was struck by an unknown projectile, killing one crew member, the United Kingdom Maritime Trade Operations (UKMTO) Center reported Tuesday.

The strike damaged the engine room as well, the UKMTO said.

The vessel was hit just off the coast of Oman, and the remaining crew are being assisted by the Omani Coast Guard, the UKMTO said.

No environmental impact has been reported, according to the UKMTO.

President Donald Trump declared Monday that Tehran wants a deal with Washington but is unwilling to accept necessary terms.

“They want to make a deal, but they're not going to make the kind of a deal that I feel is necessary,” Trump told reporters in the Oval Office.

“Look, we're in there for one reason” he said before clarifying that Iran “cannot have a nuclear weapon."

“You understand that Iran cannot have a nuclear weapon, and they won't have a nuclear weapon.

“And right now, them building one after what we did previously with the B-2 bombers, it’s going to be going to be a long time.

“It's very simple. They can't have a nuclear war.” he added.

The president’s remarks came as a 60-day ceasefire between the United States and Iran ended Monday with both sides standing firm on their positions over Iran's nuclear program and the Strait of Hormuz.