Donald Trump says "we've got their Strait" amid Iran standoff and oil concerns

President Donald Trump’s remarks on Iran prompted concerns about energy supplies and inflation, with Indian shares expected to open lower Friday. Trump minimized the likelihood of a broad diplomatic settlement, stopped the U.S.-Iran talks Vice President JD Vance had been pursuing, and described a standoff with neither fighting nor negotiations; he also said military force could be used if U.S. allies or ships were threatened. Iranian officials reported an attack on Sirik in Hormozgan province, and four oil tankers were hit by explosions in the Strait of Hormuz after entering waters Iran’s military deems restricted. Trump separately said Washington did not need an Iran deal and told Vance to focus on alleged crime and corruption in Democratic-run cities and states instead of negotiations to end the conflict with Tehran. U.S. stocks fell, oil rose nearly 3% and Treasury yields climbed.