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President Donald Trump said the US and Iranian officials can talk by phone for a peace solution to the conflict. In an interview on Fox News Channel, Trump said he made that decision rather than send a delegation on a 17-hour flight. Talks appeared to fall apart on Saturday, with Tehran's top diplomat leaving Pakistan, and Trump soon afterward saying he had told envoys not to travel to Islamabad.
Iran's Parliament Speaker MB Ghalibaf compared "Supply Cards" vs "Demand Cards" in the energy standoff. He listed Strait of Hormuz partly played, BEM and pipelines unplayed on supply, against inventory release played, demand destruction partly played, and more price adjustments to come on demand.
Iran gave the US a new proposal to reopen the Strait of Hormuz and lift the naval blockade first, while postponing nuclear negotiations to a later stage, reports Axios.
Oil prices climbed sharply as efforts to revive peace talks between the US and Iran faltered, leaving the Strait of Hormuz effectively shut and deepening a global supply crunch. Brent crude for June settlement rose 2.2% to $107.66 a barrel, after touching an intraday high of $107.97, while WTI for June delivery gained 2.2% to $96.47, holding near multi-month highs.
The US dollar started Monday stronger as fading hopes for a Middle East deal weighed on sentiment, keeping the yen near 160 ahead of the Bank of Japan’s policy decision. President Trump scrapped an Islamabad visit by his envoys, saying Iran could reach out to negotiate an end to the two-month war, with the Strait of Hormuz effectively closed. The dollar rose in March on safe-haven flows but gave up gains on peace hopes, steadying recently as US-Iran talks stalled.
According to a report in Axios:
Israel and Hezbollah traded blame over violations of the fragile ceasefire in Lebanon, with Prime Minister Benjamin Netanyahu saying the military was "vigorously" targeting the Iran-backed militia as both sides claimed new attacks. But claims that both sides have breached a 10-day ceasefire agreed earlier this month have continued.
Iran’s Parliament Speaker MB Ghalibaf posted on X comparing “Supply Cards” vs “Demand Cards” in the energy standoff. He listed Strait of Hormuz partly played, BEM and pipelines unplayed on supply, against inventory release played, demand destruction partly played, and more price adjustments to come on demand.
They brag about the cards.
— محمدباقر قالیباف | MB Ghalibaf (@mb_ghalibaf) April 26, 2026
Let's see:
Supply Cards= Demand Cards
SOH (partly played) BEM(unplayed) Pipelines(unplayed)= Inv Release (played) Demand Destruction (partly played) ⏳More Price Adj (to come)
Add summer vacation to the right unless they want to cancel it for the US!
Iranian Foreign Minister Abbas Araghchi departed for Moscow after a brief stop in Islamabad on Sunday, AFP reported. IRNA said he returned to the Pakistani capital Sunday after visiting Oman. In Islamabad, Araghchi was set to hold another round of regional consultations with Pakistani officials.
US President Donald Trump on Sunday said the US and Iranian officials can talk by phone for a peace solution to the conflict. In an interview on Fox News Channel, Trump said he made that decision rather than send a delegation on a 17-hour flight.
“We have all the cards. If they want to talk, they can come to us, or they can call us,” Trump said, not indicating when the call would take place.
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