US and Iran Exchange Fire; Trump Claims Ceasefire Holds as Nuclear Issue Festers

Active military exchanges occurred between US and Iranian forces, even as the Trump administration asserted that a ceasefire framework remains in effect. Washington was reportedly awaiting Tehran's response to a US proposal that would halt kinetic operations but deliberately defer resolution of Iran's nuclear program. Two LNG tankers transited the Strait of Hormuz bound for Japan and China, but supply shortages persist — indicating that Hormuz remains operationally constrained rather than closed. Japanese companies are drawing on emergency corporate credit lines in response to the oil crisis, and Toyota has issued profit warnings citing Middle East tensions. ASEAN leaders have moved to create a shared fuel reserve in direct response to the supply disruption.