WorldOil Supply Risks Rise as Hormuz Talks Stall

Global markets advanced after softer US inflation reduced expectations of another Federal Reserve rate hike, while investors continued to monitor the US-Iran standoff over the Strait of Hormuz. Talks appeared deadlocked, though Pakistan said the sides might be moving toward an agreement. Iran said traffic remained below prewar levels and demanded action on environmental damage, while President Trump claimed the US had “total control” of the strategic waterway.