The US and Iran showed little progress toward resuming peace talks, with Trump saying the naval blockade is “choking” Iran’s oil exports and working effectively. US military commanders are expected to brief Trump on new Iran strike options, including limited operations aimed at breaking the deadlock. Brent crude surged as much as 7.1% to above $126 a barrel before easing, driven by fears over the Strait of Hormuz and the fragile ceasefire since early April. Analysts said escalation within two we

The US and Iran showed little progress toward resuming peace talks, with Trump saying the naval blockade is “choking” Iran’s oil exports and working effectively. US military commanders are expected to brief Trump on new Iran strike options, including limited operations aimed at breaking the deadlock. Brent crude surged as much as 7.1% to above $126 a barrel before easing, driven by fears over the Strait of Hormuz and the fragile ceasefire since early April. Analysts said escalation within two weeks is increasingly likely. Iran has refused to reopen the strait while sanctions remain, while its economy shows mounting pressure and currency weakness.