WorldHormuz Deal in Doubt as Iran Keeps Strait Shut

Global markets are watching the Strait of Hormuz as uncertainty grows over any agreement to reopen the crucial shipping route. President Trump says the United States “totally controls” the strait, while Iran insists it will stay closed until its conditions are met. The US also says it fired on a vessel accused of breaching the blockade. Pakistan’s interior minister is traveling to Iran for talks. Oil prices are extending their gains as traders weigh the possibility of a prolonged disruption, while investors await US core CPI data.