Donald Trump, the U.S. president, said Tuesday that he did not need China's assistance to end the "war" with Iran. This was despite the fact that hopes of a lasting peace agreement were fading and Tehran tightened their grip on the "Strait of Hormuz".

Trump, ahead of a high stakes summit in Beijing said he didn't think he needed to enlist Chinese president Xi Jinping for resolving the conflict. The conflict has continued to stifle maritime traffic, which normally supplies one-fifth the world's supply of oil.

"I do not think that we need any assistance with Iran. He told reporters that he believed they would win the war peacefully or not.

After more than a month of a tenuous truce, both sides have not made any progress in reaching an agreement to?end hostilities. Iran has also appeared to consolidate its control of the Strait of Hormuz by cutting deals with Iraq, Pakistan and other countries to ship oil and natural gas. Sources said that other countries are looking at similar deals in an effort to normalize Tehran's permanent control over the waterway. In an attempt to create consensus ahead of the summit, the Trump administration announced on Tuesday that senior U.S. officials and Chinese officials agreed that no country would be allowed to charge tolls for traffic in the region.

China, a country that maintains close ties to Iran and is a major oil buyer, has not disputed this description. Trump will discuss the war this week with Xi, and it is expected that he will encourage China to persuade Tehran to reach a deal with Washington.

The U.S. has made several demands, including ending Iran's nuke program and lifting the chokehold it has on the Strait. Iran responded with its own demands, including compensation for damage caused by war, the end of the U.S. ban, and the end of the war across all fronts. This includes Lebanon, where U.S.-allied Israel is fighting Iran's Hezbollah militants. Trump called these positions "garbage".

OIL EXTENDS GAIN Brent crude oil futures continued to rise, reaching more than $107 per barrel as the deadlock left?Strait of Hormuz mostly closed.

U.S. Central Command reported that the aircraft carrier Abraham Lincoln is in the Arabian Sea, enforcing a U.S. Blockade. It has redirected 65 vessels commercial and disabled four more. Pentagon estimated the war cost at $29 billion, an increase of $4 billion over the estimate given late last month. The new cost includes updated repair and replacement costs for?equipment as well as operational costs, according to an official. The war has also pushed up gas prices in the U.S. Consumer prices have risen at a rapid pace for the second consecutive month in April. This is the biggest annual inflation increase in almost three years. The war is not popular with Americans less than six months from the nationwide elections which will determine if Trump's Republican Party retains control of Congress. According to an /Ipsos survey completed on Monday, two out of three Americans think Trump hasn't clearly explained why America has gone to war. This includes one in three Republicans as well as almost all Democrats.

The Iranian officials are steadfast

Iranian officials were defiant. An Islamic Revolutionary Guard Corps (IRGC) official was quoted in a 'Fars' news report as saying that Iran had extended its definition of Strait of Hormuz to a zone extending from the coast of Jask, in the east, to Siri Island, in the west.

State TV reported that the Guards in Tehran held drills "centered on preparation to face the enemy".

(source: Reuters)