Trump: US Forces Will Remain in Region Until Iran Complies With Agreement; Oil Rebounds as Hormuz Concerns Keep Supply Risks Elevated

President Donald Trump said on April 8 that warships and personnel will remain in the region around Iran until a peace deal is reached, vowing a return to military action if Tehran fails to comply. On April 7, Trump announced a ceasefire, saying that the United States would suspend attacks on Iran for two weeks, provided Tehran agreed to the complete and immediate reopening of the Strait of Hormuz.

Oil prices rose by more than 3 percent on Thursday as doubts over a fragile two-week Middle East ceasefire raised concerns that energy flows through the crucial Strait of Hormuz will remain restricted, with shippers hesitant to resume transit.

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