A US official signaled that it is still committed to the memorandum of understanding with Iran, even though US President Donald Trump’s declared earlier this week that the framework deal to end the Iran war was “over” after Tehran carried out strikes against vessels in the Strait of Hormuz and against neighboring countries, the Times of Israel reported on Thursday.

“The United States is still committed to finding a resolution, and technical talks continue,” said the White House.

The statement acknowledges Trump’s comments against the MOU but signals that the US is still prepared to adhere to its terms so long as Iran does the same.

Late Thursday, US forces struck several more locations in coastal Iran, according to Iranian state media, though the US did not confirm carrying out the attacks. Iranian officials and state media have reported multiple explosions in the country’s south, including near the Bushehr nuclear facility. The reports came after an earlier wave of US strikes, which was followed by Iranian missile fire at a US base in Jordan.

Market reaction

At the time of writing, the West Texas Intermediate (WTI) is down 3.78% on the day at $71.75.

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