As the war in the Middle East nears its fourth week, signals from Washington suggesting progress in peace talks talks with Iran have offered brief moments of market relief, but these have been quickly overshadowed by Tehran’s outright denials and continued hostilities in the region.
At the centre of the crisis is the Strait of Hormuz, a critical artery for global oil shipments. Iran’s effective blockade has disrupted shipping and pushed Brent crude above $100 a barrel, up nearly 40 per cent since the war began. While Washington speaks of a possible deal, Tehran insists no negotiations are underway, deepening confusion over whether diplomacy is real or tactical.
