Trump extends ceasefire with Iran indefinitely at Pakistan’s request to allow for diplomatic efforts
23/04/2026 (Oils & Fats International) - US President Donald Trump has extended the country’s ceasefire with Iran to allow more time for diplomacy, Euronews wrote on 22 April.
With a second round of peace talks on hold, Trump made the announcement on his Truth Social social media platform the day before the existing truce had been set to expire on 22 April.
“Based on the fact that the government of Iran is seriously fractured, and, upon the request of Field Marshal Asim Munir and Prime Minister Shehbaz Sharif of Pakistan, we have been asked to hold our attack on the country of Iran until such time as their leaders and representatives can come up with a unified proposal,” wrote Trump.
On 21 April, both countries had warned that without a deal, they were prepared to resume fighting.
Trump said the US blockade of Iranian ports – put in place following Iran’s effective closure of the Strait of Hormuz – would also continue until Tehran presented a “unified proposal”, the BBC reported on 22 April.
Uncertainty over the USA-Iran war and the continued closure of the strait had impacted global markets and oil prices, Euronews wrote.
Brent crude oil prices, the international standard, spiked to around US$$99/barrel on 22 April, an increase of around US$4/barrel from the previous day’s trade, as markets anticipated a resumption in hostilities, the report said.
According to a FreightWaves report published prior to the announcement of the indefinite ceasefire, it could take six months or longer for ships to be cleared for transit through the Strait of Hormuz, even after the Iran war was over, as Iran had mined the narrow but vital waterway at the entrance to the Persian Gulf.
Although marine insurers had said war risk coverage was available for the strait, surging premiums and safety fears were deterring transits, the 20 April report said.
Against this backdrop, Malaysia said it was preparing for a prolonged period of volatility in global energy markets, New Straits Times (NST) reported on 20 April.
Economy Minister Akmal Nasrullah Mohd Nasir was quoted as saying that oil price stability at previous levels might not be realistic amid ongoing tensions and supply chain disruptions.
However, the government remained focused on structural adjustments to improve energy resilience, with the gradual expansion of biodiesel usage, moving from B10 blending levels to B15 in phases, Nasir said.
“Operationally, increasing biodiesel usage is feasible. By adjusting logistics and blending processes, we are confident in moving from B10 to B12 and B15 without waiting for major infrastructure upgrades,” he added.
More than 70% of blending depots nationwide were ready to implement the B15 biodiesel mandate, Nasir was quoted as saying in a 21 April report by The Star.
In the NST report, he also noted that Malaysia had sufficient feedstock capacity to support the expansion, with palm oil production levels significantly exceeding current biodiesel demand requirements.