World
U.S. signals potential agreement to end conflict amid shipping disruptions, rising costs, and global concerns over energy flows
By Associated Press Published: 2026-05-06T17:55:00+04:00 2 min read
In a post on social media, Trump warned that if Iran does not accept the agreement, “the bombing starts, and it will be, sadly, at a much higher level and intensity than it was before.” He added that it was “perhaps a big assumption” that Iran would agree to the terms. File picture of Trump used for illustrative purpose only.
Washington: U.S. President Donald Trump said on Wednesday that the war with Iran could end soon and oil and natural gas shipments could resume, if Tehran agrees to a proposed deal that has not been publicly detailed.
In a post on social media, Trump warned that if Iran does not accept the agreement, “the bombing starts, and it will be, sadly, at a much higher level and intensity than it was before.” He added that it was “perhaps a big assumption” that Iran would agree to the terms.
According to Axios, the White House believes it is close to reaching an agreement with Iran based on a one-page memorandum to end the war. Reported provisions include a moratorium on Iranian uranium enrichment, the lifting of U.S. sanctions, the release of frozen Iranian funds, and the reopening of the Strait of Hormuz to maritime traffic. The White House has not responded to questions regarding the potential deal.
Meanwhile, the closure of the Strait of Hormuz continues to impact global shipping. Hamburg-based shipping company Hapag-Lloyd said the disruption is costing around $60 million per week, mainly due to higher fuel and insurance costs. Shipping traffic through the strait has significantly declined, with vessels facing security risks and complex vetting procedures.
Analysts warn that energy markets and shipping operations are unlikely to stabilize until risks in the Strait of Hormuz recede. Industry experts say tanker traffic and energy flows in the coming weeks will be key indicators of whether the situation is improving.
Separately, China’s Foreign Minister Wang Yi said Beijing is “deeply distressed” by the conflict, following talks with Iran’s Foreign Minister Abbas Araghchi. The U.S. has urged China to use its influence with Tehran to help reopen the strategic waterway.
In domestic developments, recent elections in Indiana, Ohio, and Michigan highlighted shifting political momentum ahead of the U.S. midterm elections. While Trump continues to hold strong influence within the Republican Party, Democrats have shown gains in key races, signaling a competitive political landscape.