Despite the latest flare-up, oil prices have fallen sharply on hopes that traffic through Hormuz would recover. In peacetime, it carries about a fifth of the world's oil and liquefied natural gas exports.

Despite optimistic statements from US officials, negotiations between Washington and Tehran remain fragile amid deep mistrust and regional tensions. While a temporary framework…

A fragile truce between the United States and Iran hung in the balance Saturday after US forces said they struck Iranian targets in another tit-for-tat response to attacks on…