White House says Tehran in ‘very weak position’; Iran says two seized ships transferred to its coast; US navy secretary leaves office ‘effective immediately’, says Pentagon

A U.S. seizure of an Iranian cargo ship and reports of vessels coming under fire in the Gulf have pushed a fragile ceasefire with Tehran to the brink.

US Treasury secretary Scott Bessent says Iran’s Kharg Island storage facilities will be full and their ‘fragile’ oil wells shut in mere days because of the blockade; oil prices…