Middle East crisis live: Trump extends ceasefire but US and Iran at loggerheads over port blockade

US Treasury secretary Scott Bessent says Iran’s Kharg Island storage facilities will be full and their ‘fragile’ oil wells shut in mere days because of the blockade; oil prices rise amid ongoing uncertainty Trump announces extension of Iran ceasefire until ‘discussion concluded’ Donald Trump posted to Truth Social about 10 minutes ago, claiming Iran is “collapsing financially” and was losing $500m every day the strait of Hormuz is closed. Iran is collapsing financially! They want the Strait of Hormuz opened immediately- Starving for cash!