Iran Warns Of 90% Uranium Enrichment If Attacked Again

Tehran: Iranian Parliamentary Commission spokesperson Ebrahim Rezaei said one of Iran’s responses in the event of another US-Israeli attack on its territory “could be 90 per cent enrichment”. Tehran and Washington reached an impasse again on Monday over how to end their war while their ceasefire grew increasingly shaky, with the two sides exchanging fire in recent days, ships and Gulf states being targeted, and fighting flaring between Israel and the Lebanese militant group Hezbollah.

President Donald Trump said Sunday that Iran’s response to his latest proposal was “TOTALLY UNACCEPTABLE!” Also, Trump will travel to Beijing this week for a rescheduled summit with Chinese President Xi Jinping. But Beijing’s deep economic ties to Iran, as well as trade tensions over tariff threats stretching back to Trump’s first term, could crimp the meeting, even though the Republican president has for years effusively praised Xi.

Trump also said Monday that he would indefinitely suspend the federal gas tax, though Congress needs to approve the move. The war continues to send fuel prices skyrocketing and rattle world markets. After Trump’s comment on the weakness of the ceasefire, the price for a barrel of Brent crude oil climbed 2.9% to $104.18.

Meanwhile, oil prices rose on Monday as the war with Iran threatens to drag on for longer, but the U.S. stock market nevertheless inched toward more records.

The price for a barrel of Brent crude oil climbed 2.9% to settle at $104.21 after President Donald Trump said the U.S.-Iran ceasefire was on “life support” after he rejected Iran’s latest proposal to end their war. The rejection raises the stakes for Trump’s trip this week to China, where he could urge President Xi Jinping to pressure Iran into making concessions. Xi has influence because China is the biggest buyer of Iran’s sanctioned crude oil.

The war has already sent the price for a barrel of Brent up from roughly $70 and delivered a blast of painful inflation through the global economy. That’s because it has shut the Strait of Hormuz and kept oil tankers stuck in the Persian Gulf instead of delivering crude to customers worldwide.