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WorldMay 15, 2026

Iran-US Peace Talks Stall as Oil Hits $106 and Strait of Hormuz Stays Shut

Iran's 14-point counter-proposal — including demands that Washington recognise Tehran's sovereignty over the Strait of Hormuz and lift sanctions on its oil exports — was rejected by President Trump as 'totally unacceptable.' Foreign Minister Abbas Araghchi has issued an ultimatum, Brent crude is trading above $106 a barrel, and the strategic waterway remains effectively closed more than ten weeks into the conflict.

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Iran-US Peace Talks Stall as Oil Hits $106 and Strait of Hormuz Stays Shut

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