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President Trump zigzagged from claims of diplomatic progress to renewed threats of destruction on Monday, sending new shocks through oil markets as he sought to pressure Iran to make a deal to end the monthlong war.
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Mr. Trump said in a Truth Social post that there had been “great progress” in talks with Tehran but warned that if they failed to produce an agreement, he would order the bombardment of Iranian power plants, oil infrastructure and potentially desalination plants. The president has repeatedly threatened such attacks in recent weeks, only to back down, as the global economy reels from the risk to energy supplies.
Despite Mr. Trump’s claim that the United States is in talks with “a new, and more reasonable, regime” in Iran, however, there has been little apparent progress in the negotiations. Iran has denied holding substantive talks with the United States and has rejected the Trump administration’s conditions as unreasonable. The war has raged on, drawing in much of the Middle East, sending oil and gas prices skyrocketing and fracturing Mr. Trump’s political support at home.