Geopolitics & Iran Conflict
• Talks between the United States and Iran failed to reach a resolution over
ending the war, Vice President JD Vance announced after more than 20 hours of
negotiations
• Trump says US will blockade Strait of Hormuz after Iran talks end without a
deal
• The US military says it will begin naval blockade in Strait of Hormuz at 10 a.m.
ET Monday
• Iran Foreign Minister said that talks with the United States stalled after
Iran encountered “maximalism” and “shifting goalposts.”
• Tehran has vowed to retaliate against any military vessels in the strait
• Iran's Revolutionary Guard issues direct warning to military ships nearing
Strait of Hormuz
• Iranian officials said they resisted three “unreasonable demands” from the US
during negotiations
• Regional officials familiar said diplomatic channels between the US and Iran
remain open, with a second round of talks possible within days
• Sources said Iran is not in a hurry to resume negotiations with the US
• Iran’s parliament is advancing a new proposal to ban fleets from “hostile
countries” from transiting the Strait of Hormuz
• Iranian media reported that two US vessels attempted to pass through the
Strait of Hormuz but were forced to retreat
• The UK will not join any Trump blockade of the Strait of Hormuz
Energy & Commodities
• An Iranian oil ministry official said damaged refineries are expected to
restore at least 70% of prior capacity within one to two months
• Spot gold and silver opened lower Monday, with gold down $70 to $4,673/oz and
silver falling more than 3%
• International crude surged at the open, with WTI rising 9.4% to $104.54 a
barrel
Trade & Policy
• Trump said the US will not allow Iran to profit from oil sales
Global Politics
• Hungary’s Viktor Orban, an ally of Trump and Putin, conceded to Magyar’s Tisza
after projections showed the opposition winning a two-thirds majority
Corporate & China
• JD.com denied entering the ride-hailing sector, saying it is testing a new
project set to launch on April 13
