Iran, US set new conditions during Hormuz talks: What does this mean?
Oil prices surge as talks stall over competing demands, hampering prospects for reopening crucial strait.
The United States and Iran have exchanged new demands during negotiations for the reopening of the Strait of Hormuz, raising new doubts about prospects for a wider deal to end their five-month war.
While the US has said it is involved directly in the talks, Iran has said it is talking directly only with Oman, with which it proposes sharing future management of the critical waterway, through which one-fifth of the world’s oil and liquefied natural gas supplies were shipped before the US-Israel war on Iran began at the end of February.
