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U.S.–Iran Talks Teeter as New Strikes Rattle Truce and Keep Oil Near $100

Markets now hinge on Tehran’s reply to a one‑page U.S. proposal carried by Pakistan.

Overview

  • The U.S. says it delivered a one‑page peace proposal and expects Tehran’s reply through Pakistan, which Iran’s foreign ministry says it is still reviewing.
  • CENTCOM said late Thursday it hit Iranian‑linked targets, including two empty tankers near the Gulf of Oman, after missiles, drones and small boats targeted three U.S. destroyers in the Strait of Hormuz.
  • Iran’s military accused Washington of violating the cease‑fire with strikes on its coast and said its forces answered by attacking U.S. warships.
  • Oil settled near $101 on Friday but fell more than 6% for the week after hopes for a short deal swung with news of fresh clashes.
  • The Strait of Hormuz carries about one‑fifth of global oil, so a reopening would ease supply strains as dozens of tankers remain constrained near Iranian ports, with investors eyeing any sign of a formal response from Tehran.