Trump Says He Doesn't Need China's Help on Iran as Hormuz Deadlock Pushes Oil Above $107

The U.S. and Iran have been at war since American and Israeli strikes on February 28, with a fragile ceasefire taking effect over a month ago, but no peace agreement has been reached since. Iran has tightened its grip on the Strait of Hormuz, which normally carries one-fifth of the world's oil supply, striking export deals with Iraq and Pakistan for oil and liquefied natural gas shipments. Brent crude climbed above $107 a barrel as the blockade held, while the USS Abraham Lincoln redirected 65 commercial vessels and disabled four others in the Arabian Sea. Ahead of his Beijing summit with Xi Jinping, Trump said he needed no Chinese help, stating his only concern was preventing Iran from acquiring a nuclear weapon. Iran demanded war damage compensation, an end to the U.S. blockade, and a halt to fighting in Lebanon, positions Trump dismissed as "garbage." The Pentagon put total war costs at $29 billion, up $4 billion from last month's estimate. Two in three Americans, including one in three Republicans, say Trump has not clearly explained the war's purpose.