US-Iran talks uncertain as ship struck in Hormuz

Recent developments in US-Iran talks have fueled uncertainty, as conflicting claims from both nations have cast a shadow over potential resolution of their five-month-long conflict. US President Donald Trump asserted that negotiations were underway, urging Iran to reach a "good deal" before a "last chance" window closes, but Iran vehemently denied any such talks.

The latest attack on a ship in the Strait of Hormuz has further heightened risks to global energy flows, as tensions persist in the vital maritime route. Iran's Foreign Ministry spokesman, Esmail Baghaei, firmly stated that no negotiations with the US were taking place, and no meetings were planned, except for discussions with Oman to manage the strait.

Shipping activity in the Gulf has been affected, with fewer vessels transiting through the strait compared to the previous day, indicating the ongoing standoff. Despite hopes of easing tensions, oil prices have dropped, while major stock indexes have surged. Gulf officials and analysts believe Iran is leveraging the situation to pressure the US and its allies, aiming to raise the costs of confrontation.

Trump has repeatedly threatened military action, but ultimately stepped back, while Iran has consistently rejected negotiations since the collapse of a memorandum of understanding aimed at ending the conflict. The Hormuz dispute remains a key point of contention, with differing interpretations of the June memorandum and Iran's authority over shipping traffic.