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Iran’s refusal of second round of US peace talks was ‘posturing’: Pakistani sources
Xi Urges Immediate Opening Of Hormuz Strait For First Time, In Call With Saudi Crown Prince
China's President Xi Jinping on Monday demanded the uninterrupted passage of vessels through the Strait of Hormuz in a phone call with Saudi Arabia's Crown Prince Mohammed bin Salman, state news agency Xinhua reports. He urged the normalization of shipping traffic after about 50 days of disruption which obviously and significantly impacts Chinese oil imports.
"Normal navigation through the Strait of Hormuz should be maintained, this is in the shared interests of regional countries and the international community," Xi said, in the statement also carried by AFP. He called for an immediate, comprehensive ceasefire and insisted disputes be resolved through political and diplomatic means.
Getty ImagesHe added that China will deepen strategic mutual trust with Saudi Arabia and expand practical cooperation.
South China Morning Post observes that it was "the first time the Chinese leader had called for the reopening of the strategically vital waterway, which has been repeatedly blockaded since US-Israeli strikes on Iran began on February 28."
China imported 5.86 million tons of crude oil from Saudi Arabia, down 10% from February, according to customs data released Monday.
As for where things stand on the negotiations front, Iran hesitated over sending diplomats to Pakistan for a second round of peace talks after the US maintained a blockade of the Strait of Hormuz and seized an Iranian vessel, after apparently firing on it, undermining prospects for a breakthrough to end the war. Initially it appeared to shut the door on second talks, however per Associated Press Monday morning:
Iranian authorities have expressed willingness to send a delegation for a second round of talks in Islamabad this week, two Pakistani officials said Monday.
The officials, who spoke on condition of anonymity because they were not authorized to brief the media, said there is cautious optimism that delegations from both Iran and the United States could travel to Islamabad.
The US side would reportedly once again be headed up by Vice President JD Vance - who during the first round cut out early after a serious impasse was reached on the nuclear issue.
The tumultuous weekend events followed Iranian Foreign Minister Abbas Araghchi having posted on X on Friday that the Strait of Hormuz was "completely open". By Sunday morning, Bloomberg ship tracking data had showed tanker traffic through the Strait of Hormuz was largely ground to a halt. Also, the prior 24 hours had seen multiple incidents of tankers making U-turns, and added to all this a senior Iranian official renewed threats to close the Bab al-Mandeb Strait.
According to a quick review of some other developments Monday morning and per emerging market data, China will import a record volume of US ethane this month as petrochemical producers switch feedstocks after the Middle East war disrupted critical supplies.
Recall that by mid-March Trump was actually asking for China's help to get the blocked Strait of Hormuz reopened...
Trump said China should help reopen the Strait of Hormuz, arguing Beijing depends heavily on oil flowing through the waterway.
“I think China should help too because China gets 90 per cent of its oil from the Straits.”
He warned he wants Beijing’s position before his planned… pic.twitter.com/ZbtxAppcqO
And in the broader region, Singapore is securing additional liquefied natural gas from outside the Middle East as the conflict in Iran constrains regional supply, according to a government body. India authorized more Russian insurers to cover vessels calling at its ports and extended permits for others as the closure of the Strait of Hormuz disrupts energy shipments from the Persian Gulf.
The International Energy Agency has meanwhile said that global power consumption rose 3% last year, driven in part by rapid demand growth from electric vehicles and data centers, according to the International Energy Agency.
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Psychedelic Stocks Soar After Trump Order; RBC Says Commercialization Path Could Accelerate
Psychedelic drug stocks soared in premarket trading in New York after President Trump signed an executive order aimed at accelerating research and expanding access to therapies used for post-traumatic stress disorder (PTSD).
"The executive order I'm signing, we're actually signing the executive order today, is really a moment," Trump said at the signing event. "These treatments are currently in the advanced stages of clinical trials to ensure that they're both safe and effective for the American patients."
President Trump signed an executive order directing the FDA to expedite review of psychedelic drugs like ibogaine, which advocates say could treat PTSD and other mental health conditions https://t.co/vBk8EoguVF pic.twitter.com/AEW6V2merr
— Reuters (@Reuters) April 18, 2026Trump's order, signed on Saturday, directs the FDA to prioritize review of certain breakthrough-designated psychedelic therapies, expands potential access under the Right to Try Act, commits at least $50 million in federal funding for state partnerships, and encourages closer coordination among HHS, the FDA, the VA, and private-sector researchers.
"In many cases, these experimental treatments have shown life-changing potential for those suffering from severe mental illness and depression, including our cherished veterans," Trump said, citing the veteran suicide rate.
The order also instructs the Justice Department to move quickly on rescheduling any psychedelic-based product that successfully completes Phase 3 trials and receives FDA approval.
Trump continued, "And the nice part is we're actually doing this early, but it has been going on. Research has been going on for quite some time. But, you know, usually with things like this, nothing ever happens, no matter how the research ends up, but we're changing that. This order will clear away unnecessary bureaucratic hurdles, improve data sharing among the FDA and the Department of Veterans Affairs, and facilitate fast rescheduling of any psychedelic drugs that become FDA-approved."
Accelerating Medical Treatments for Serious Mental Illness🇺🇸@JoeRogan: "For 56 years we've lived under those terrible conditions. We're free of that now. Thanks to all these people... and thanks to President Trump." https://t.co/j1tkGACSM7 pic.twitter.com/aQmZl3z4PG
— The White House (@WhiteHouse) April 18, 2026Oppenheimer analyst Jay Olson told clients that Trump's weekend executive order "represents a structural inflection point for the U.S. psychedelics sector by facilitating research, regulatory timelines, and patient access, which reinforces our positive outlook."
In response, psychedelic drug stocks in premarket trading, such as Compass Pathways jumped 24.5%, Atai Beckley gained 28%, Definium Therapeutics rose 13%, and GH Research added 17%.
"The path to commercialization could be even faster now," RBC analyst Brian Abrahams told clients, adding that the executive order "accelerates psychedelics as the key next wave of mental health treatments."
Abrahams' research covers Definium Therapeutics, Compass Pathways, and GH Research. He said those stocks are likely to benefit the most.
Jefferies analyst Andrew pointed out that with the federal government increasingly aligned on psychedelics, "investor mindshare should rise meaningfully ahead of potential approvals in 2027-30."
This marks another big win for the psychedelic space.
Tyler Durden Mon, 04/20/2026 - 07:45