Trump says no talks planned with Iran, Tehran says Strait of Hormuz still shut

U.S. President Donald Trump said Tuesday that no negotiations were underway with Iran and maintained that the Strait of Hormuz remained open, contradicting Tehran’s claim that the vital shipping route was still closed.

 

Fading hopes of a deal to resolve the nearly six-month conflict pushed oil prices higher again on Tuesday. Meanwhile, global stock markets weakened and borrowing costs for major economies, including the United States, climbed to multi-decade highs as concerns grew over the crisis’s potential long-term impact on inflation and government finances.