President Donald Trump declared the month-old ceasefire with Iran over on Saturday, July 11. The announcement follows a week of military exchanges and Iranian attacks on commercial ships in the Strait of Hormuz.
The United States conducted military retaliations before agreeing to an Iranian request for continued diplomatic talks. Iranian officials arrived in Oman to negotiate the safe passage of ships through the region.
China instructed domestic refineries to maintain high fuel output to ensure energy security amid market uncertainty.