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Chapter 1: What recent statements has President Trump made regarding Iran?
Live from NPR News in Washington, I'm Ryland Barton. President Trump says the U.S. is talking with what he calls a respected Iranian leader and says the Islamic Republic is eager for a deal to end the war. Trump says he extended a deadline by five days for Iran to reopen the crucial Strait of Hormuz or face more attacks on its power plants.
But as NPR's Ayyub Atrawi explains, Tehran has disputed Trump's claims.
Here's what Trump told reporters this morning before boarding a flight.
We want to see peace in the Middle East. We want the nuclear dust. We're going to want that. And I think we're going to get that. We've agreed to that. Yeah, we've agreed to that.
But Iran's foreign ministry says there's been no dialogue. Iran's parliament speaker called it, quote, fake news used to manipulate financial and oil markets. But Iran did say there are efforts by countries in the region to reduce tensions right now.
NPR's Abe Atrawi reporting. Oil prices are currently just under $90 a barrel. That's more than $10 down from where they ended last week. As NPR's Camilla Dominovsky reports, the price of oil has been responding as much to Trump's verbal signals as to physical realities.
When President Trump posted in the morning about very good talks with Iran, crude oil prices slid dramatically and stayed down even when Iran said talks were not underway. Ed Crooks with research firm Wood McKenzie says oil traders are jumping at the slightest hint about when the war will end.
And that's why you're seeing prices swinging backwards and forwards on these little fragments of information.
Meanwhile, the Strait of Hormuz remains effectively closed for business. Only two vessels passed through on Sunday, according to the shipping intelligence company Kepler, down from more than 100 a day pre-war. Camilla Dominovsky, NPR News.
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Chapter 2: How are oil prices reacting to geopolitical tensions?
We take showers, fill our glasses, and flush our toilets with it. But what if one morning you try to turn on the tap and nothing comes out? That is a reality that many people already face.
For much of the world, normal is gone.
What happens when our most vital resource runs out? Find out on Shortwave, listen in the NPR app, or wherever you get your podcasts.