Spiked fuel prices continue to rattle the world economy as talks between the United States and Iran to find a resolution to the war appear to have no end in sight.
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Data released by the Labor Department on Tuesday showed gas prices jumped 5.4% with average regular gas costing more than $4.50 a gallon, according to AAA.
Meanwhile, during an interview with FOX News’ Sean Hannity on Thursday, Trump said Xi pledged to not provide military equipment to Iran.
What they’re saying:
“He said he’s not going to give military equipment. That’s a big statement,” Trump said. “He said that today. That’s a big statement. Said that strongly.”
The president also renewed pressure on Tehran to reach an agreement before the conflict escalates further.
“They should make a deal,” Trump added. “Any sane person would make a deal, but they might be crazy.”
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The Ateela 2 Oil Tanker boat navigates the sea on April 28, 2026 on Qeshm Island, Iran in the Strait of Hormuz. (Photo by Asghar Besharati/Getty Images)
Here’s the latest from Friday:
China wants Strait of Hormuz reopened
8:05 a.m. ET: President Trump said Chinese President Xi told him he wants opposes tolls and wants the Strait of Hormuz reopened.
China’s Ministry of Foreign Affairs also reiterated similar statements in a bilateral meeting during Trump’s visit to China.
“Now that the door for dialogue has been opened, then it shouldn’t be shut again,” China’s Ministry of Foreign Affairs said in a statement Friday, adding that the solution should “take into account the concerns of all parties on the Iran nuclear issue.”
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“Shipping routes should be reopened as soon as possible,” the ministry said.
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