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White House confirms more US-Iran peace deal talks are actively being discussed, even as traffic through the Strait of Hormuz remains at a near standstill. That disconnect is the real story. Trump tied the ceasefire to the strait reopening, but ships still aren't moving freely. Whether these talks produce anything concrete or just more headlines is the question the oil market is pricing in right now.

Iran claims one of its supertankers passed through the Strait of Hormuz despite the U.S. blockade. This comes from Fars News Agency, which is state-controlled Iranian media. If accurate, it means the U.S. naval cordon has a gap. WTI crude is at $91.31, barely moved overnight.

🚨 $ASML Q1 2026 EARNINGS: EPS $8.37 vs est $7.72 (BEAT +8.4%) | EPS YoY: +32.6% | Rev $10.26B vs est $10.21B (BEAT +0.5%)

Trump is now claiming credit for preventing Iran from going nuclear, telling Fox News that without his intervention, Tehran would already have a weapon. This comes as the US is actively blockading the Strait of Hormuz and direct negotiations with Iran are ongoing. Trump framing himself as the reason Iran hasn't crossed the nuclear threshold is part of his broader pressure campaign, and it signals he sees the current standoff as a moment of maximum leverage.

Trump just told Fox News that U.S. military operations against Iran are still ongoing and "not done yet." That directly walks back the deal optimism that has been driving markets higher all day. Oil was already pulling back on ceasefire speculation. This changes the tone fast.

The S&P 500 is closing in on all-time highs as Iran deal optimism lifts sentiment, but the rally has a real ceiling. Talks between the U.S. and Iran are progressing, yet the Strait of Hormuz remains the sticking point. Both sides are still far apart on whether Iran retains any right to restrict access, and that unresolved question is keeping traders cautious about how durable this move really is. The index has clawed back a massive chunk of its April losses. Whether it breaks through to a new record depends heavily on what comes out of the next round of negotiations.

Taiwan's benchmark stock index closed at a record high of 37,019.87, gaining as much as 2% on the session. The move tracks broader Asia optimism around potential U.S.-Iran deal progress and easing oil price pressure. Taiwan Semiconductor Manufacturing, the index heavyweight, has been a major driver of gains as tech sentiment improves globally.

Ships are moving through the Strait of Hormuz again. More than 20 commercial vessels transited the strait in the past 24 hours, per two U.S. officials cited by WSJ. The key detail: ships not bound for Iranian ports are being allowed through freely. This is a meaningful shift from the complete halt reported yesterday. The blockade appears to be narrowing in scope rather than tightening, which takes some pressure off global shipping and the oil market heading into Thursday's session.

White House confirms more US-Iran peace deal talks are actively being discussed, even as traffic through the Strait of Hormuz remains at a near standstill. That disconnect is the real story. Trump tied the ceasefire to the strait reopening, but ships still aren't moving freely. Whether these talks produce anything concrete or just more headlines is the question the oil market is pricing in right now.

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🚨 $C Q1 2026 EARNINGS: EPS $3.06 vs est $2.63 (BEAT +16.3%) | EPS YoY: +56.1% | Rev $24.63B vs est $23.64B (BEAT +4.2%)

🚨 $WFC Q1 2026 EARNINGS: EPS $1.56 vs est $1.58 (MISS -1.3%) | EPS YoY: +22.8% | Rev $21.45B vs est $21.77B (MISS -1.5%)

🚨 $JPM Q1 2026 EARNINGS: EPS $5.94 vs est $5.49 (BEAT +8.2%) | EPS YoY: +17.2% | Rev $50.54B vs est $48.77B (BEAT +3.6%)

🚨 $BLK Q1 2026 EARNINGS: EPS $12.53 vs est $11.67 (BEAT +7.4%) | EPS YoY: +10.9% | Rev $6.70B vs est $6.50B (BEAT +3.0%)

The U.S. military says it has now halted most maritime trade entering and leaving Iran entirely. This goes beyond the tanker intercepts and ship turnbacks reported over the past 24 hours. A near-total blockade of Iranian trade, if confirmed and sustained, is an enormous escalation with consequences well beyond oil. Iran imports food, medicine, and industrial goods by sea. The economic pressure on Tehran is now severe.

This is a notable data point from U.S. Central Command that reframes the entire Iran standoff. If 90% of Iran's economy runs through sea-based trade, the naval blockade the U.S. has been enforcing is not just a pressure tactic. It is a near-total economic chokehold. Every ship turned back, every tanker intercepted, hits directly at the core of how Iran funds itself. That context makes the deal signals from Trump and Tehran this week a lot easier to understand.

The Wall Street Journal reports the U.S. has now intercepted eight Iran-linked oil tankers since the blockade began, up from the six merchant ships that were turned back as of Wednesday. The pace of seizures is accelerating. This is no longer just a show of force at the strait entrance. The Navy is actively pulling Iranian-linked vessels out of circulation across a wider area, which raises the stakes on any deal timeline significantly.