🚨BREAKING: The US and Iran are weighing further negotiations to extend the two-week ceasefire, per Bloomberg.

Here's what you need to know:

1. Trump's blockade of the Strait of Hormuz is now active

2. US proposed a 20-year nuclear suspension; Iran offered 5 years

3. A China-linked sanctioned tanker is testing the blockade RIGHT NOW

4. Saudi Arabia is urging the US to stand down

5. VP Vance says, "The ball is in [Iran's] court."

Brent crude has fallen -2.9% to $96.50/barrel on the news.

Markets are pricing in a deal.