[US Stock Futures] Explosions Reported Again on Iran's Khark Island, Oil Prices Rise (Updating)

Although Trump’s ultimatum was at 8:00 a.m. Hong Kong time on Wednesday, the bombing of Iran’s military targets has not stopped, including strikes on a weapons depot in Isfahan. According to Qatar’s Al Araby TV, Kharg Island (Kharg Island) was hit in an airstrike.

Because Trump has claimed the military facilities on Kharg Island were destroyed, further attacks are likely to involve oil facilities.

As oil prices rise, Brent futures once again break above $110, and $110 is a recent high, while New York futures oil is at $114.3.

Dow Jones futures fell by 200 points, S&P futures fell by 0.5%, and Nasdaq futures fell by 0.6%.

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$1 or below is Monday’s market conditions====

Trump reiterates the “deadline” — U.S. Eastern time Tuesday 8:00 p.m. Within 4 hours, blast bridges and power plants; oil prices hold steady

In a press conference at 1:00 a.m. Hong Kong time on Tuesday, Trump reiterated that the ultimatum is still 8:00 p.m. U.S. Eastern time on Tuesday. Priority will be given to opening the Strait of Hormuz. If the two sides fail to reach an agreement, Trump threatened to use force to destroy all bridges and power plants inside Iran, knocking its infrastructure “back to the Stone Age.”

See also: U.S. stocks close:

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Trump said that Steve Witkoff and Vance are taking part in negotiations with Iran: “I think things are going well, but we must wait and see. You have to understand, we’ve been dealing with these people for 47 years.”

Before the press conference, at the traditional White House South Lawn Easter egg rolling event, Trump told reporters, “They came forward with a proposal. This is a major development. It’s not good enough yet, but it’s a very significant step. They’re now negotiating, and they’ve already taken a very major step. Let’s see what happens next.”

Tehran clearly rejected any interim ceasefire and instead urged finding a path to end the war permanently. At the same time, Iran has been making more diplomatic efforts, hoping that countries will pressure Trump from a humanitarian position.

In the press conference, Trump said, “They asked for an extension of 7 days. I gave them 10 days. Ten days is actually until today. So I indirectly gave them 11 days. I don’t think it’s appropriate to do it on the first day after Easter. I want to be the good guy.”

He revealed that at 12:00 a.m. U.S. Eastern time on Tuesday, “every bridge in Iran will be destroyed. Every power plant in Iran will stop operating, burning, exploding, and will be unusable ever again. Complete destruction, at 12 o’clock. This will happen within 4 hours. If we’re willing, we don’t want that to happen. We may even participate in helping them rebuild the country.”

He emphasized that the United States has achieved energy independence and no longer relies on Middle East oil as heavily as in the past—or like China does.

U.S. stocks rebounded repeatedly. The Dow Jones rose 165 points to close at 46,669, the S&P rose 0.4% to close at 6,611, and the Nasdaq rose 0.5% to close at 21,996.

At a press conference in Tehran, Iran Foreign Ministry Spokesperson Esmail Baghaei said that when necessary, Tehran will “do everything in our power” to defend the country. He accused the United States and Israel of having “no red lines” and ignoring international law. Baghaei rejected the reported 15-point ceasefire agreement conveyed through intermediaries by the United States, and described the proposal as “illogical” and unacceptable, saying that it had already submitted some visions and ideas.

He emphasized that negotiations cannot be conducted under threats, and insisted that Iran’s national security and interests are the top criteria for reaching any agreement.

Earlier that same day, Baghaei also said that Iran would never back down to pressure. He said: “A few days ago, they put forward a proposal through intermediaries, and this U.S. 15-point plan was relayed via Pakistan and some other friendly countries.” He added: “These kinds of proposals are both highly ambitious and seem unusual and illogical.”

The foreign ministry spokesperson rejected the claim that “contact with intermediaries means weakness.” “The Islamic Republic of Iran quickly and bravely puts forward views on a plan. This should not be seen as a sign of surrender to the enemy,” and “From the moment the discussion to initiate it began, we have been ready to respond. When the time comes, we will make it clear to you.”

Pakistan proposes a “two-stage ceasefire plan”

Reuters, citing people familiar with the matter, reported that Iran and the United States have received a plan aimed at ending hostilities. The plan could take effect as early as today and would lead to the Strait of Hormuz being reopened.

Pakistan drafted a framework agreement to end hostilities and submitted it to Iran and the United States last night. The framework is based on a “two-stage plan”: first, reaching an immediate ceasefire, followed by signing a comprehensive agreement. A source said, “All elements must be agreed upon within today.” The source added that the initial understanding would be drafted in the form of a memorandum of understanding (MoU) and finalized through Pakistan; Pakistan is currently the only communication channel for talks between the two sides.

Reuters reported that the anticipated agreement would involve Iran committing to give up developing nuclear weapons in exchange for the lifting of economic sanctions and the unfreezing of Iranian overseas assets.

Al Jazeera, citing Pakistani officials, said that “urgent diplomacy” is underway. The officials said the issue they face is essentially dealing with a “school-kid brawl.” They have to find a way to soothe everyone’s pride and build bridges over a bottomless sea of distrust. The report said they are in communication with religious figures and diplomats, while also talking with military commanders—clearly alluding to the Islamic Revolutionary Guard Corps (IRGC).

Iraq granted permission to pass through the Strait of Hormuz

After news circulated that Iran has exempted Iraq so that its transit through the Strait of Hormuz faces no restrictions, Reuters reported that the Iraq National Oil Marketing Organization (SOMO) has asked its customers to submit their crude oil lift plans within 24 hours.

Axios reported that mediators from Pakistan, Egypt, and Turkey are making final efforts to secure a 45-day ceasefire between the United States, Israel, and Iran.

A senior Iranian official warned that if the United States escalates its attacks on Iran, global energy routes beyond the Strait of Hormuz could be threatened.

Reuters cited a SOMO document saying, “In view of the above situation, to ensure continuity and stability of crude oil export operations, we urge your company to submit a lifting plan within 24 hours so that your lifting arrangements can be handled in a timely manner, including vessel nominations and contract cargo volumes, and in full compliance with the agreed terms and conditions.” Since the war began, Iraq’s oil production has plunged to about 800k barrels per day.

Strait of Hormuz — real-time vessel navigation conditions

The document further said, “We hereby reiterate that all loading terminals, including the Basra oil terminal and its related facilities, remain in full operation. SOMO is fully prepared to execute all cargo lifting plans without restriction.”

On Sunday, Trump posted on social media Truth Social: “Tuesday, 8:00 P.M. Eastern Time!” (U.S. Eastern time Tuesday 8:00 p.m.!), implying that it is the deadline, which corresponds to 8:00 a.m. Hong Kong time on Wednesday.

Democrats said Trump’s latest threats to Iran are “mentally deranged,” and warned that attacking civilian facilities may constitute war crimes.

It is worth noting that the situation is urgent. Any information is enough to reverse the current market conditions.

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