Donald Trump has declared that Iran’s newly appointed leadership is seeking a ceasefire, but he emphasized that any agreement would require the reopening of the Strait of Hormuz.

The former President noted on Truth Social that the ‘new regime president’ is ‘far less radical and significantly more intelligent than his predecessors.’ However, he did not specify who within the U.S. administration was involved in these discussions during his Wednesday morning post.

In response to Trump’s assertions, Tehran quickly dismissed them. Iranian parliament speaker Mohammad-Bagher Ghalibaf described it as ‘classic war profiteering.’

On Wednesday, the stock market experienced an upward trend, building on a substantial relief rally from the previous day, as Trump hinted at the possibility of concluding the conflict with Iran, even if the Strait of Hormuz remains closed.

Despite the positive market reaction, Trump’s comments added some confusion. He stated that a ceasefire would only be possible if the Strait is ‘open, free, and clear.’

“Until then, we will continue our offensive against Iran, effectively pushing them back to the Stone Age,” Trump asserted.

The Dow added 363 points, or 0.8 percent, while the S&P 500 was up 0.6 percent and the Nasdaq spiked by 0.7 percent.

Oil prices are also falling, with global benchmark Brent crude down 2 percent, to $102 per barrel, after touching $118 on Tuesday – the highest price since the war started on February 28. 

Trump said Wednesday morning that Iran’s new leadership has asked for a ceasefire

Iranian President Masoud Pezeshkian was spotted walking the streets of Tehran on Tuesday evening

Trump said the ceasefire will hinge on whether Iran opens up safe transit in the Strait of Hormuz

The national average price for a regular gallon of gas stands at $4.1, up from $2.9 before the war started. 

The ceasefire announcement comes 12 hours before Trump is scheduled to give a televised address at 9pm ET about the ongoing war. 

Trump previously ordered a stand down on military strikes targeting Iranian energy infrastructure as negotiations between Iran and the US continue. 

The five-day ceasefire was later extended to a 10-day halt in targeting Iranian energy plants, power stations and oil wells after the President said the Iranian government requested an extension. 

Iran President Masoud Pezeshkian and Iran’s Foreign Minister Abbas Aragchi made a rare appearance on the streets of Tehran last night. 

‘I came to be among the people, to draw energy from the movement on the ground and to enjoy this unity,’ Araghchi told reporters at an evening rally.

‘This popular cohesion is our greatest defense against any external threat.’ 

Ever since the start of the conflict, Trump has sent out a flurry of contradictory messages: from declaring the war is won, to giving the regime ten more days to make a deal, to threatening to ‘completely obliterate’ Iran’s energy infrastructure the Strait of Hormuz was not ‘immediately’ reopened for business.

NATO nations have been taunted as ‘cowards’ and nothing more than a ‘paper tiger’ alliance which the US ‘needs nothing from’, while at other points they are called upon to ‘go to the strait’ and reopen it themselves.

While the US has said talks with Iran were ongoing and expressed optimism, Iranian Foreign Minister Abbas Araqchi said on Tuesday he had received direct messages from US special envoy Steve Witkoff but those did not constitute ‘negotiations’.

Amid mounting hopes for a deal, the US President might deliver an announcement tonight bringing the war to a close, but there is also the possibility he is touting peace as cover for an Easter invasion.

An invasion on Good Friday would coincide with the closure of Wall Street and major European markets for a three-day weekend.

Trump might time the operation for when markets are closed, especially if the military has only short, sharp missions in mind before they reopen.