US Iran Ceasefire Talks | Pete Hegseth Warns Iran, Says United States Is "Locked & Loaded"

U.S. Secretary of Defense Pete Hegseth says Iran has a "historic chance" to make a deal with the United States and end the war in the Middle East. Much of the world is on edge over a war that has snarled crucial energy exports through the Strait of Hormuz, clouded the global economic picture and left thousands dead across the Middle East. Hegseth also hit out at Europe, saying "they need the Strait of Hormuz much more than we do, and might wanna start doing less talking and having less fancy conferences in Europe and get in a boat." The price of Brent crude oil, the international standard, retreated on the news, vacillating between $103 a barrel and more than $107 — still early 50% higher than where it was on Feb. 28, when the war began. The squeeze on shipments through the strait has rippled through global maritime trade flows, including through the Panama Canal nearly halfway around the world.