Live: Trump Puts Iran on Notice With 'Last Chance' Warning, Ship Struck in Hormuz and Oil Wavers

Amid an ongoing U.S.-Iran war rattling global energy markets, President Donald Trump has put Tehran on notice that current diplomatic contacts are its final window to avoid deeper military escalation. Iran's government flatly denied any negotiations were happening, but Trump contradicted this outright, saying both sides were actively in contact. Meanwhile, a cargo ship was struck by an unidentified projectile near the Strait of Hormuz, and oil prices clawed back slim gains following a steep sell-off.

TrendKia Desk 1 min read For AI

Live updates

August 04, 2026 07:00
Oil inches higher after sharp plunge as U.S.-Iran conflict keeps supply outlook murky
Oil prices posted a modest recovery on Tuesday (August 4), bouncing back after a heavy decline the session before, with traders still wary that the U.S.-Iran conflict continues to choke global shipments and a diplomatic breakthrough looks distant. Brent crude for the front month climbed $0.62, or 0.7%, to $84.39 per barrel at 0055 GMT, a day after shedding roughly 7% and hitting a three-week trough. U.S. West Texas Intermediate (WTI) crude advanced $0.61, or 0.7%, to trade at $80.95, recovering from a fall of more than 5% the previous session that had pushed it to its weakest level in nearly a week. — Reuters
August 04, 2026 06:58
Cargo vessel struck by mystery projectile in Hormuz strait, British maritime body says
A cargo ship was hit by a projectile of unidentified origin while passing through the Strait of Hormuz off Oman's coastline, a British maritime authority confirmed on Tuesday (August 4), though it offered no information on injuries or the extent of damage. The vessel, whose name was not disclosed, reported the strike to authorities, who have since launched an investigation, the United Kingdom Maritime Trade Operations (UKMTO) said. The agency stated that the incident took place approximately 20 nautical miles (37 kilometres) to the northeast of Al Khasab, Oman. — AFP
August 04, 2026 06:51
Trump warns Iran of 'last chance before decapitation' as Tehran denies talks are happening
U.S. President Donald Trump declared on Monday (August 3) that diplomatic contacts with Iran were continuing regardless of Tehran's denials, cautioning the Islamic Republic that it had arrived at a pivotal juncture — what he called a 'last chance before decapitation.' Addressing journalists at the White House, Mr. Trump said he had agreed to keep the negotiating channel open with Iran after receiving appeals from Saudi Arabia, the United Arab Emirates, Qatar and a number of other countries in the region. Iran's Foreign Ministry had categorically rejected on Monday (August 3) any suggestion that discussions with Washington were taking place, but Mr. Trump dismissed that denial outright. 'We are talking right now,' he stated. — AFP