Donald Trump says "they have no money" as he is "just watching Iran"

Crude prices climbed and Asian equities mostly dropped Tuesday as hopes faded for a quick US-Iran arrangement over the Strait of Hormuz after a 60-day ceasefire lapsed. President Donald Trump declined to renew that truce, part of a June understanding, and Tehran dismissed it, saying Washington had already broken it. Trump reportedly described Iranian leaders as eager for an accord but unwilling to meet his conditions, and said he was taking a low-key approach, citing Iran’s soaring prices and depleted state finances. His son-in-law conceded talks were active but trust was scarce. Washington reportedly threatened further economic isolation, and Trump warned of bombing Oman if it obstructed an agreement. With Brent above $91, investors worried about sustained high prices.