Trump says he is losing patience with Iran, did not ask China for favours
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- Trump said on May 15 his patience with Iran was “running out,” threatening further action if Tehran does not reopen the Strait of Hormuz.
- Xi did not confirm any concrete pressure on Tehran, while China’s foreign ministry issued a statement expressing frustration with the “Iran war” and the strait closure.
- Iran has kept the Strait of Hormuz shut since Feb 28 in retaliation for U.S.–Israeli strikes, linking its reopening to the end of a U.S. port blockade.
- Oil prices rose about 3 % to $109 a barrel as the stalemate continued, and Treasury yields hit their highest level in roughly a year.
- Trump floated lifting sanctions on Chinese oil companies buying Iranian oil, but insisted he isn’t asking China for favors.
Why it matters: Higher oil prices benefit US producers while raising costs for global shippers; Trump's pressure on Iran and his hint at easing sanctions on Chinese oil firms directly affect the flow of Iranian oil.
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