Oil Jumps $3/Barrel As Trump-Iran Peace Talks Collapses, Strait of Hormuz Crisis Deepens

Peace talks between President Trump and Iran collapsed, deepening the energy supply crisis in the Strait of Hormuz. Oil prices rose by $3, and the US is expected to ask China to leverage its influence to push for a comprehensive ceasefire and a resolution to the ongoing disruption in the Strait of Hormuz. The instability of the energy market is expected to continue.