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Seven months into Hormuz shutdown: Oil remains elevated as Trump rejects Iran proposal

On Monday, oil prices surged, driven by escalating tensions in the Middle East following Iran's recent peace proposal. U.S. President Trump's dismissal of the proposal has contributed to market volatility. Both Brent crude and U.S. West Texas Intermediate saw price increases, although worries over diesel exports continue to shape market sentiment.

Seven months into Hormuz shutdown: Oil remains elevated as Trump rejects Iran proposal

Iran's Islamic Revolutionary Guard Corps (IRGC) claims to have seized a second advanced American unmanned underwater vehicle, the Remus 600, in the Strait of Hormuz. According to a statement from Iranian state broadcaster IRIB, the operation targeted what Iranian military authorities described as the "second subsurface [submarine] of the American terrorist army" operating in the strategic waterway.

The IRGC described the operation as a "coordinated and complex operation involving military intelligence and electronic warfare capabilities." The captured platform was identified as a Remus 600, an autonomous unmanned underwater vehicle, and was allegedly carrying out espionage missions in the strait. Iranian officials claimed the submersible was now in the hands of the IRGC navy's specialists to recover its information.

The IRGC navy reiterated its position that the Strait of Hormuz is closed and warned of continued "strong and relentless" action against unauthorized traffic. Iranian President Masoud Pezeshkian vowed that Tehran would remain resolute in its confrontation with the US and Israel, rejecting a US proposal for a seven-day ceasefire and reopening of the Strait.

Iranian Armed Forces spokesperson Brigadier General Abolfazl Shekarchi warned the US against interfering in the management of the Strait, stating that any ship passing through outside designated routes would not have security.

Written by urgent.news from Times of India's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

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