Trump Extends Deadline for Iran for Another 10 Days

US President Trump said that, at the request of Tehran, he has extended the deadline for Iran to reopen the Strait of Hormuz by another 10 days. This is the second time he has extended the deadline. After Trump announced this decision, the stock market dropped significantly and oil prices rose.

According to reports from The New York Times and Reuters, Trump wrote on Truth Social on Thursday (March 26): "At the request of the Iranian government... I will temporarily not destroy their energy facilities for 10 days, until Monday, April 6, Eastern Time (Singapore Time April 7, 8 a.m.)."

He also said: "Negotiations are underway, although the fake news media and others have made many incorrect opposite statements, but the negotiations are progressing very smoothly."

Earlier that day, Trump said at a cabinet meeting at the White House that he was unsure whether Iran would comply with the deadline he set for the latest possible opening of the Strait of Hormuz by March 27, nor was he sure if the negotiations would go smoothly, but he said, "We have plenty of time."

On March 21, Trump issued a deadline of 48 hours for Iran to reopen the Strait of Hormuz or else he would destroy various power plants in Iran. On the 23rd, he wrote on social media that the US and Iran had had "very good and productive" conversations in the past two days and that the deadline for the US to carry out air strikes on Iran's power plants had been "extended by five days."

Compared with Trump's optimistic assessment, Iran has at least denied in public speeches that negotiations are underway and accused the Trump administration of merely trying to placate the global market. International crude oil futures rose sharply on the 26th, and the three major indexes of the New York Stock Exchange declined significantly.

Iran continues to retaliate against attacks by the US and Israel, attacking Israeli and US military bases, and also attacking neighboring countries in the Persian Gulf, effectively blocking fuel exports from the Middle East through the Strait of Hormuz.

The war between the US and Israel and Iran is entering its fifth week. This war has seriously disrupted shipping, causing crude oil prices to rise by nearly 40%, liquefied natural gas exports to Asia to increase by nearly 67%, and the price of nitrogen fertilizer to rise by nearly 50%.