Iran has threatened the United States with new measures it describes as economic warfare, including missile action, and vowed to establish a maritime exclusion zone, according to TimesLIVE. The reported threats come as US sanctions on Tehran intensify and as Houthi forces launched an attack on Saudi Arabia. The developments signal heightened tensions across the Gulf region involving Iran, the United States and its regional allies.

Iran has characterized the ongoing diplomatic negotiations aimed at resolving the Middle East conflict as a 'declaration of US defeat.' As talks progress, negotiators are preparing for further discussions to address the situation in the region, according to The Citizen.

Oil prices fell sharply on Thursday, reaching their lowest levels since the onset of the US-Iran conflict, following an interim agreement between the United States and Iran that alleviated concerns over global crude supply. According to Reuters, Brent crude futures decreased by $1.53.

The global economy is facing uncertainty as Iran has effectively closed the Strait of Hormuz amid ongoing conflict with Israel and the United States. This strait is crucial for the passage of approximately one-fifth of the world's oil and gas. While some ships have managed to navigate the strait, they have done so under Iran's conditions, reportedly paying tolls for safe passage. The situation remains tense as the world awaits the reopening of this vital waterway.

Negotiators from the US and Iran are working towards a final, comprehensive deal, but both countries have issued conflicting statements regarding nuclear inspections and the Strait of Hormuz. The situation remains tense as discussions continue, highlighting the ongoing disagreements between the two nations.

On day 117 of the ongoing conflict, Iran and the United States are in disagreement over nuclear inspections and the strategic Strait of Hormuz, as negotiators aim to finalize a deal within the next 60 days. Additionally, the US Senate has taken steps to limit the war powers of the executive branch, according to Al Jazeera.