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The Trump administration discussed Iran's proposal to reopen the Strait of Hormuz if the U.S. ends its blockade and the conflict concludes, though the White House emphasized that no decision has been made. Brent crude surged past $111 per barrel amid tensions, but markets remained resilient with the S&P 500 and Nasdaq hitting record highs. President Trump has insisted the strait will remain closed until a full deal with Iran is secured. No official U.S. response has been issued yet.
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President Donald Trump on Monday discussed Iran's proposal to reopen the Strait of Hormuz with his national security team, White House press secretary Karoline Leavitt said yesterday. Under the framework, Tehran would the open the key passage if the U.S. ends its blockade of the strait and the war concludes, while negotiations over Iran's nuclear ambitions would be reportedly be postponed.As CNBC's Kevin Breuninger reports, Leavitt said discussion of the proposal did not mean Trump was "considering" the offer and that Trump would likely speak directly on the subject "very soon." Trump has pledged to keep the strait closed until a deal with Iran is "100% complete."Brent oil futures surged above the $111 per barrel mark this morning. Still, investors have largely looked past the latest tension: The S&P 500 and Nasdaq Composite both hit new record highs yesterday. Follow live market updates here.
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