Due to the continued tension in the Middle East, international crude oil futures prices continued to rise on the 30th. The price of Brent crude oil futures for June delivery once surged past $126 per barrel (about 497.64 ringgit), an increase of 7%.
This marks the highest level since June 2022.
On the 29th, U.S. President Trump stated that the U.S. would continue to impose a maritime blockade on Iran until the Iranian side agrees to reach an agreement that addresses U.S. concerns over Iran's nuclear program.
His statement indicates that the U.S. has rejected Iran's latest negotiation proposal. According to U.S. officials cited by the media, Trump was not satisfied with Iran's proposal because the first two phases of the plan did not address the nuclear issue.
In a phone interview with U.S. news site Axios, Trump said, "A blockade is, in some ways, more effective than bombing... And their situation will only get worse."
He stated that Iran wants to reach an agreement precisely in order to have the blockade lifted.
He said: "They want reconciliation; they don't want me to continue the blockade, but I have no intention of (lifting the blockade), because I don't want them to possess nuclear weapons."
He pointed out that due to the U.S. blockade preventing Iran from exporting oil, Iran's oil storage facilities and pipelines are on the verge of exploding.