Hormuz Strait Impasse: Iran's Red Lines Threaten Global Oil Supply The standoff over the strait of Hormuz continues to reverberate through global markets, casting a long shadow over already fragile oil supplies.
For months, negotiations between Tehran and Washington have stalled, with both sides dug in on irreconcilable positions.
Tensions are running high after the US Navy shot down an Iranian drone last week, prompting Iran to target a tanker operated by a UAE based company.