Oil rises as US-Iran peace hopes fade
Iran will keep the strait closed until the US meets the conditions of the interim deal signed in June, top Iranian negotiator Mohammad Baqer Qalibaf said in comments published by state media on Tuesday.
Oil prices were slightly higher on Tuesday, gaining for a third straight session, as prospects for a US-Iranian peace deal dimmed after Tehran said it would adopt a more offensive stance and Washington ruled out extending a ceasefire deal.
Progress on peace talks and the resumption of oil tanker traffic through the strategic Strait of Hormuz appear to have halted, threatening to extend the conflict that the United States and Israel launched with attacks on Iran on February 28.
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