Trump takes hard line on Iran as Hormuz standoff drags on

U.S. President Donald Trump said he will not seek to revive a lapsed U.S.-Iran ceasefire memorandum signed in June, leaving the Iran-U.S. standoff and the Strait of Hormuz dispute in limbo. The agreement expired Monday after providing a 60-day window for negotiations. Trump demanded restored free passage through the waterway, while Iran said it would govern traffic with Oman. Iran’s lead negotiator Mohammad Bagher Ghalibaf told lawmakers Hormuz won’t reopen unless the U.S. lifts a port blockade, releases frozen assets, removes oil sanctions, and ends all military operations. Brent crude rose as much as 1.1% to $91.85 before easing near $91, amid recent attacks and reduced shipping.