Conflicting signals from the United States and Iran over the status of talks to end their five-month-old war have boosted uncertainty.
President Donald Trump stated that talks with Tehran were underway, warning that Iran faces a last chance to sign a good deal. Iran, however, has pushed back against these assertions, denying that any negotiations are being held or planned.
An attack on a vessel near the Strait of Hormuz and a rebound in oil prices on Tuesday further underscored doubts that the war is nearing a resolution. These events have highlighted the ongoing risks to global energy flows.