US-Iran Peace Deadline Expires Without Agreement, Hormuz Crisis Deepens

The US-Iran conflict has entered another uncertain phase after the deadline for a peace arrangement expired without a final agreement. The memorandum between the two countries expired on Monday, while Washington has continued to push for greater control over the strategically important Strait of Hormuz.

The situation remains significant for global energy markets because the Strait is a major route for oil shipments. Continued disruption could increase freight and insurance costs and put additional pressure on countries that depend heavily on imported energy, including India.