President Donald Trump announced Wednesday that an interim cease-fire agreement with Iran is over after the U.S. launched fresh strikes on Iranian targets [1].

The collapse of the deal signals a sharp escalation in tensions between Washington and Tehran, threatening the stability of global energy corridors and diplomatic efforts in the Middle East.

The U.S. government said the recent military strikes were retaliation for Iranian attacks on three commercial vessels [2] in the Strait of Hormuz. Trump said this during a briefing with NATO officials and in a separate televised address [1].

"To me, I think it's over," Trump said [3]. He said that he will no longer deal with "sick people" [4].

NATO Secretary General Mark Rutte supported the military response to the maritime attacks. Rutte said the attacks are absolutely necessary [1].

The announcement triggered immediate volatility in global energy markets. Oil prices jumped more than six percent [5] to a two-week high following the comments from the president.

While some reports characterize the agreement as a cease-fire deal [1], others describe it as an interim agreement [3]. Regardless of the terminology, the U.S. administration has moved to void the terms following the breach of maritime security in the Strait of Hormuz.

“"To me, I think it's over."”

The termination of the interim deal removes a primary diplomatic buffer between the U.S. and Iran. By linking the voiding of the agreement directly to the attacks in the Strait of Hormuz, the U.S. is prioritizing the security of commercial shipping lanes over the maintenance of a fragile peace. The immediate surge in oil prices suggests that markets anticipate a prolonged period of instability or further kinetic conflict in a critical energy chokepoint.