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President Donald Trump's April 8 deadline for Iran arrives today. In the past 24 hours, US forces struck Iran's strategic Kharg Island — the terminal through which nearly all of the country's oil is exported — while diplomatic hopes remain alive but fragile.
According to US officials, overnight military operations hit targets on Kharg Island but deliberately avoided oil facilities. The measured strike reflects Trump's escalating pressure campaign against Tehran. The President warned that "a whole civilization will die tonight" if no deal materializes, while adding "maybe something revolutionarily wonderful can happen."
Tehran has sent Washington a formal 10-point response through Pakistani mediators. The document outlines demands including a safe-passage protocol for the Strait of Hormuz, an end to regional conflict, reconstruction aid, and the lifting of sanctions. Iran has explicitly rejected any temporary ceasefire, calling instead for a permanent resolution.
Speaking to reporters at the White House Easter Egg Roll, Trump dismissed a proposed 45-day ceasefire as "not good enough." Iranian officials echoed the rejection from the opposite direction, saying temporary measures are insufficient and a comprehensive peace framework must be negotiated directly.
The EIA has sharply revised its oil and gasoline price forecasts, with US gas prices expected to peak at $4.30 per gallon this month. As the 8 p.m. ET deadline approaches, global markets are bracing for significant volatility tonight. The outcome will determine whether this conflict escalates into direct confrontation or pivots toward diplomatic resolution.
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