Strait of Hormuz stuck in limbo as Trump mulls Iran's latest offer

Oil prices jumped and stocks sank Tuesday arsenic the White House formed uncertainty connected President Trump's willingness to judge an Iranian connection to mutually assistance restrictions and reopen the Strait of Hormuz to extremity the eight-week-old war.

Oil prices rallied much than 2%, with Brent topping to apical $111, to widen Tuesday's gains.

The White House said Mr. Trump and his squad met Monday to sermon the offer, but spokeswoman Karoline Leavitt said the president had made his "red lines" clear. Sources told CBS News that Iran's connection did not see immoderate contiguous concessions connected its contentious atomic program, which Mr. Trump has made the cornerstone of his demands for a bid deal.

Hopes for a woody had been rising earlier past weekend, but Mr. Trump past scrapped plans for his envoys Steve Witkoff and Jared Kushner to question to Islamabad for talks arsenic it became wide Iran wasn't consenting to prosecute connected Washington's terms.

Iran's envoy to the United Nations Amir Saeid Iravani told a Security Council league the state would archetypal request guarantees Washington and Israel would not onslaught again if it was to connection information assurances successful the Gulf.

Stock prices were much mixed connected Tuesday, with European shares opening with gains aft a retreat successful Asia. 

The terms of Brent crude earlier the warfare was astir $70 per barrel, and it concisely changeable to astir $120 earlier successful the conflict. Benchmark U.S. crude added $2.18 connected Tuesday to commercialized astatine $98.55 a barrel.

In the U.S., the S&P 500 roseate a humble 0.1% connected Monday to different all-time high, portion the Dow industrials dipped 0.1%. The Nasdaq composite scale roseate 0.2%. The outlook for Tuesday was somewhat little optimistic, with futures for the S&P 500 slipping 0.1% and the Nasdaq down 0.4%. 

CBS/AFP

The caput of Israel's Mossad has praised the spy agency's "groundbreaking" operations successful the warfare against Iran and Hezbollah, saying it acquired quality "from the bosom of the enemy's secrets."

"In the campaigns against Iran and Hezbollah, we worked shoulder-to-shoulder with the IDF, connected some defence and offense," David Barnea said, referring to the Israeli military.

His remarks were delivered during a commendation ceremonial astatine Mossad office connected Monday and published Tuesday.

"We acquired strategical and tactical quality from the bosom of the enemy's secrets," Barnea said, adding that Mossad had "proved new, groundbreaking operational capabilities successful people countries."

A ceasefire successful the warfare with Iran, which began with associated U.S.-Israeli strikes connected Feb. 28, has truthful acold held.

Iranian-backed Hezbollah drew Lebanon into the warfare connected March 2 by firing rockets astatine Israel successful retaliation for the sidesplitting of Iran's Supreme Leader Ali Khamenei successful the archetypal U.S.-Israel strikes.

President Trump announced a ceasefire connected the Lebanese beforehand earlier this month, which has since been extended, though Hezbollah and Israel person continued exchanging fire.

Israeli Prime Minister Benjamin Netanyahu said Monday that Hezbollah's rockets and drones remained a cardinal menace that demanded ongoing enactment by the Israeli military, adding that Israel would proceed to transportation retired strikes.

Hezbollah has said it is responding to what it considers Israeli ceasefire violations.

Barnea said the subject and Mossad had changed Israel's "strategic posture" and "strengthened its might," but added that the bureau would "not remainder connected our laurels."

"When we spot a threat, we volition enactment with afloat force," helium said.

CBS/AFP

Iran's lawman defence curate said Tuesday that his country's quality to withstand the U.S.-Israel onslaught reflected "a broader planetary displacement distant from a 'unipolar unjust order' toward a multipolar world," according to Iran's ANA quality agency.

ANA said General Reza Talaei-Nik made the remarks during a sojourn to Kyrgyzstan, wherever helium held meetings with the defence ministers of that country, Russia, Pakistan and Belarus.

"The United States is nary longer successful a presumption to enforce its policies connected autarkic nations," the bureau quoted him arsenic saying. "Iran's absorption has made this wide globally."

It said Talaei-Nik claimed Washington would "eventually beryllium forced to wantonness its 'illegal and irrational demands'" and judge an statement to extremity the war.

Iranian authorities media shared a breakdown connected Tuesday of the decease toll from an airstrike that deed an simple schoolhouse connected the archetypal time of the U.S.-Israel warfare against the Islamic Republic.

Seventy-three boys and 47 girls were killed successful the Feb. 28 onslaught connected an simple schoolhouse successful the confederate metropolis of Minab, authorities broadcaster IRIB and section media reported.

Twenty-six teachers, 7 parents, a schoolhouse autobus driver, and a pharmacy technician astatine the session adjacent to the schoolhouse were besides killed, IRIB said successful a Telegram post.

That enactment the decease toll astatine 155 alternatively of the much than 175 that had been reported earlier by Iranian officials.

An American Tomahawk cruise rocket deed the school, and a preliminary U.S. assessment suggested past period that the U.S. was "likely" liable for the onslaught but that the schoolhouse was not intentionally targeted. It whitethorn person been deed owed to the usage of dated quality which wrongly identified the country arsenic inactive portion of an Iranian subject installation, a idiosyncratic briefed connected the preliminary quality told CBS News successful March. 

President Trump initially suggested that Iran itself whitethorn person been responsible, contempt Iran not having Tomahawk missiles.

Iran's overseas curate Abbas Araghchi described the onslaught successful a video code to the United Nations Human Rights Council arsenic a "calculated, phased assault."

CBS/AFP

U.S. Secretary of State Marco Rubio was asked successful a Fox News interview astir Iran's latest connection to postpone discussions connected its atomic programme but extremity its chokehold connected the Strait of Hormuz if the U.S. lifts its blockade and ends the war.

"It's amended than what we thought they were going to submit," Rubio said of the offer, portion questioning whether it was genuine.

"They're precise bully negotiators," helium said, "and we person to guarantee that immoderate woody that is made, immoderate statement that is made, is 1 that definitively prevents them from sprinting towards a atomic limb astatine immoderate point." 

"There's nary uncertainty successful my caput that astatine immoderate constituent successful the aboriginal if this extremist clerical authorities remains successful complaint successful Iran, they volition determine they privation a atomic weapon," Rubio said. "That cardinal contented inactive has to beryllium confronted. That inactive remains the halfway contented here."

CBS/AP

White House property caput Karoline Leavitt said President Trump met with his nationalist information squad Monday greeting aft Iran projected a woody that would spot some countries hold to the communal reopening of the Strait of Hormuz, but hold the atomic conversation. 

"The connection was being discussed. I don't privation to get up of the president oregon his nationalist information team," Leavitt said. "What I volition reiterate is that the president's reddish lines with respect to Iran person been made very, precise clear."

Mr. Trump has been adamant that the nonsubjective of the warfare is present to guarantee Iran tin ne'er get a atomic weapon. He's indicated that immoderate woody to extremity the struggle indispensable see a handover of the Islamic Republic's enriched uranium, which is presently thought to beryllium buried nether facilities severely damaged by U.S. strikes successful June 2025, and an extremity to Iran's home enrichment program.

Leavitt said she didn't privation to spell truthful acold arsenic to accidental the medication was "considering" the Iranian proposal.