Tensions between the United States and Iran have intensified after US President Donald Trump said that no talks with Tehran are currently taking place or scheduled. Trump has also described the Strait of Hormuz as “new US territory”, a statement that has further heightened concerns around the strategic waterway.
Iran, meanwhile, has rejected another temporary ceasefire proposal and is demanding a permanent end to the conflict. The standoff is being closely watched by energy markets because disruption around Hormuz could affect international oil shipments and keep transportation and insurance costs elevated.
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