Oil Market Uncertainty Persists As Iran Declares Strait Of Hormuz Shut

Hope and prospects for reopening the Strait of Hormuz remained uncertain over the weekend after Iran rejected direct negotiations with the United States, signaling that a shipping agreement for the critical energy chokepoint may not be imminent.
Iranian Foreign Minister Abbas Araghchi said Tehran would not resume direct talks while accusing Washington of violating a short-lived memorandum of understanding reached earlier this year. According to Iranian state media, Araghchi said messages continue to be exchanged through intermediaries rather than through direct negotiations.
The comments come after Iran recently indicated that an agreement with Oman to establish a temporary shipping r...