By Patrick Sykes and Eltaf Najafizada
May 1, 2026 (Bloomberg) –US President Donald Trump vowed to maintain a naval blockade on Iran and was briefed by commanders on further military options, according to a report, underscoring the fragility of the ceasefire between the warring countries.
Trump reiterated that the blockade of Iranian ports is depriving the Islamic Republic of much-needed oil revenue, claiming the pressure would force Tehran back to the negotiating table.
“Good luck blockading a country with those borders,” Iran’s speaker of parliament, Mohammad Bagher Ghalibaf, said on X, referring to his country’s large size. He and other Iranian officials say the blockade, which they insist must be lifted for the sides to go to new talks and for the Strait of Hormuz to be reopened, will further push up oil prices.
Brent was up 1.3% to around $112 a barrel on Friday, extending this week’s gain to more than 6%.
The comments from each of the leaders signal how they’re waiting for the other to yield first.
Trump was briefed at the White House on Thursday by the head of US Central Command, which oversees American forces in the Middle East, and Dan Caine, the chairman of the Joint Chiefs of Staff, according to Axios, which cited two unnamed US officials. Axios reported earlier that Centcom had prepared a plan for a brief wave of strikes to break the negotiating deadlock.
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The US is pitching allies on a joint naval force to secure the Strait of Hormuz. New Zealand said it had received the proposal but would only support a US-led coalition if a sustainable ceasefire was in place. The effort, called the “Maritime Freedom Construct,” was spelled out in a State Department cable to US embassies on Tuesday that called on diplomats to press foreign governments into signing up, the Wall Street Journal reported.
On Thursday, Iran’s new supreme leader, Mojtaba Khamenei, cast doubt on the likelihood of a deal. He gave a rare statement in which he vowed not to give up the country’s nuclear or missile technologies. He also signaled Tehran would keep control of the Hormuz strait.
Here’s more on the war:
Signs of strain on the Iranian economy have emerged in recent days, with the currency weakening to a fresh low.
Iran activated air defenses around capital Tehran late on Thursday to counter reconnaissance drones. It’s unclear what led to the activation.
US Defense Secretary Pete Hegseth sparred with lawmakers on Thursday as Democrats stressed the Iran war was nearing the 60-day threshold that triggers a requirement, per the War Powers Act, of Congressional authorization for any further action.
Democrats say the Pentagon is underestimating the cost of the conflict. One US Senator said the $25 billion figure it gave this week was “probably less than half, maybe less than a quarter, of the total cost of war.”
Trump invited Iraq’s prime minister nominee to visit Washington after he forms a new government, as the US seeks to limit Iran’s influence on the Arab country. In a telephone call, Trump and Ali al-Zaidi discussed “ways to develop and strengthen” bilateral relations between the US and Iraq in various fields,” according to a statement from the Iraqi premier’s office.
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