TLDR
- Trump says Iran wants a deal but terms “aren’t good enough yet,” refusing a ceasefire
- U.S. struck Iran’s Kharg Island oil export hub; Trump says it was “totally demolished”
- Oil prices remain near $100 per barrel as the Strait of Hormuz stays effectively closed
- Trump is calling on China, France, Japan, South Korea, and the UK to help reopen the strait
- Qatar has halted LNG operations and Saudi Arabia intercepted drones near Riyadh
President Trump said Saturday he is not ready to end the war with Iran, even as Tehran has signaled it wants a ceasefire. Speaking to NBC News, Trump said “the terms aren’t good enough yet” and declined to spell out what those terms would be. He did confirm that a full end to Iran’s nuclear program would be part of any deal.
*TRUMP REJECTS EFFORTS FOR IRAN CEASEFIRE TALKS; TEHRAN RULES OUT TRUCE – REUTERS pic.twitter.com/TqV8Pd98Lc
— Investing.com (@Investingcom) March 14, 2026
The conflict is now in its third week. The U.S. and Israel launched joint strikes on Iran earlier this month. Since then, around 3,750 people have been killed across the region. Thirteen U.S. service members have died, including six crew members whose refueling plane crashed in Iraq on Friday.
Trump said U.S. forces hit Kharg Island on Saturday, Iran’s main oil export terminal. He said the island was “totally demolished,” though he added that he spared oil infrastructure to avoid a long-term rebuilding problem. He also said the U.S. may “hit it a few more times.”
The Strait of Hormuz remains effectively closed. Iran has deployed mines and drones against commercial shipping, with at least 16 vessels targeted so far. Major oil producers including Saudi Arabia, Iraq, and Kuwait have cut output as a result. Global oil prices are sitting near $100 per barrel.
President Trump says the U.S. (along with several countries) is sending warships to the Strait of Hormuz to keep it “open and safe.”
He also called on China, France, Japan, South Korea, the U.K. and others to deploy ships to the region. pic.twitter.com/SZjiAH1Yzo
— Shay Boloor (@StockSavvyShay) March 14, 2026
Trump said he is working with other countries to reopen the strait by force if needed. In a Truth Social post, he called on China, France, Japan, South Korea, and the UK to send warships to the area. He said several countries have already committed but did not name them.
Gulf Energy Infrastructure Under Pressure
The UAE reported intercepting 1,600 drones and 300 missiles since the start of the conflict. Explosions were heard over Dubai. Iran accused the UAE of allowing U.S. strikes to originate from its territory.
The port of Fujairah, a key bypass route for oil tankers avoiding the strait, resumed operations Sunday after a drone-caused fire temporarily shut it down. Qatar has halted LNG operations. Saudi Arabia intercepted drones near Riyadh on Sunday.
Iran’s new supreme leader, Mojtaba Khamenei, issued his first statement in writing but did not appear on camera. Trump questioned whether he was even alive. Defense Secretary Pete Hegseth said Khamenei was “wounded and likely disfigured.” In his statement, Khamenei vowed to keep blocking the Strait of Hormuz.
Defense Stocks and Energy Markets in Focus
Defense contractors including Lockheed Martin and RTX have seen share price movement since the conflict began. Oil prices remaining near $100 per barrel continue to affect energy markets globally.
Trump also commented on Ukraine during the call, saying Zelenskyy was “far more difficult to make a deal with” than Putin. The U.S. has eased sanctions on Russian oil in an attempt to offset rising global fuel prices caused by the Iran conflict.
Trump said U.S. forces have “knocked out most of their missiles” and “most of their drones” and predicted Iran’s manufacturing capacity for both would be “totally decimated” within two days. The port of Fujairah resumed loading operations on Sunday after the drone-related fire was brought under control.
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