Iran and the US said last week that they had reached a tentative initial agreement to halt the war. But the two sides have yet to sign off on the deal.

The United States and Iran said Monday they had again traded strikes, straining an already fragile ceasefire as negotiations between the two sides have stalled.Weeks of…

Oil prices sharply rose on Monday afternoon as Iran suspended all indirect talks with the US and vowed to fully close the Strait of Hormuz.

Escalating tensions between Iran, the US and Israel send oil prices sharply higher

Oil prices surged after US strikes on Iran and stalled diplomacy, fueling fears of escalating Middle East tensions and potential Strait of Hormuz blockade.

The regional conflict has hardened into a stalemate as the U.S. and Iran failed to turn a fragile ceasefire into a lasting peace deal.

Iran and the US said last week that they had reached a tentative initial agreement to halt the war. But the two sides have yet to sign off on the deal.