China Denounces US Naval Blockade as Oil Prices Fall Below $100

China has issued a sharp rebuke of the United States' naval blockade of Iranian ports, labeling the military action "dangerous and irresponsible." The blockade, enforced by over a dozen U.S. warships, has successfully turned back several merchant vessels in its first 24 hours. Beijing, a primary buyer of Iranian oil, warned that the move would significantly aggravate regional tensions. Meanwhile, global oil prices fell below $100 per barrel for the first time in weeks as investors reacted to renewed hopes for diplomatic talks in Pakistan. Domestically, Vice President JD Vance signaled a positive outlook on the potential for a deal, stating that Iranian negotiators appear willing to reach an agreement. However, significant friction remains regarding the nuclear program; the U.S. is currently proposing a 20-year suspension of enrichment activities, while Iran has countered with a three-to-five-year window. The International Monetary Fund (IMF) has already downgraded its global growth outlook, citing the economic disruptions caused by the seven-week conflict and the closure of the Strait of Hormuz. The humanitarian situation remains critical as a two-week ceasefire is scheduled to expire in seven days. Approximately 5,000 people have died since hostilities began. While military activity has paused during the ceasefire, Tehran has labeled the U.S. blockade "piracy" and threatened to destabilize all ports in the Persian Gulf and Arabian Sea if its own maritime access remains restricted.