Oil Perps Hit $106 on Hyperliquid, Bitcoin Falls Below $77K as Trump Warns Iran: ‘Clock Is Ticking’

President Donald Trump issued a stark warning to Iran on Sunday, telling the country its time is running out as U.S.-Iran ceasefire talks stall and oil futures hold above $100 per barrel.

The warning lands against a backdrop of a conflict that started in late February 2026, when the U.S. and Israel launched Operation Epic Fury targeting Iranian nuclear facilities. A Pakistan-mediated ceasefire took hold on April 8, 2026, initially set for two weeks, but has since been extended as indirect talks crawl forward without resolution.

The ceasefire remains fragile. A recent drone strike hit the Barakah nuclear plant in the UAE, igniting a fire that caused no radiological damage or injuries, but the incident captured how quickly the situation can deteriorate. Trump has previously described the ceasefire as being “on life support.”

Negotiations remain gridlocked over competing demands. Washington is pushing Iran to remove roughly 400 kilograms of near-weapons-grade uranium, limit nuclear sites, and reopen the Strait of Hormuz without conditions. Iran wants full sanctions relief, release of all frozen assets, war reparations, and recognition of its influence over Hormuz shipping.

Trump has called prior Iranian responses “totally unacceptable.” Reports indicate he plans to convene the Situation Room on Tuesday to weigh options, including potential military action. The Strait of Hormuz sits at the center of the oil market’s anxiety. Under normal conditions, the strait handles roughly 20 to 30 percent of global seaborne oil trade.

Since the conflict began in late February, traffic through the passage has dropped to a fraction of normal levels, pushing energy costs higher across global markets. The result has been a tightening in global oil supply, elevated freight and insurance costs, and U.S. gasoline prices averaging around $4.51 per gallon in recent weeks.

Geopolitical risks beyond the Strait factor into market pricing. Israel has signaled readiness to resume strikes if the ceasefire breaks. U.S. naval assets remain active in the Gulf. Iran has warned of “surprising” responses if talks collapse. A recent summit between Trump and Chinese President Xi Jinping produced no visible progress on pressing Iran toward a Hormuz agreement.

Markets continue to price in escalation risk. Until the Strait reopens fully and a durable agreement takes shape, energy traders have little reason to expect sustained relief.