Iran keeps Hormuz shut as US peace deadline collapses
Why it matters: tanker traffic through the chokepoint slowed sharply and oil climbed after attacks on ADNOC vessels and a Saudi refinery.
Iran said the Strait of Hormuz will remain closed until Washington meets its demands, hardening a standoff after a 60-day US-Iran peace deadline expired without a broader deal. Top negotiator Mohammad Bagher Ghalibaf said Tehran wants a US naval blockade lifted, oil sanctions removed and Iranian assets unfrozen before reopening the waterway. The impasse has disrupted shipping through one of the world's main energy routes: Kpler data cited by Reuters showed five commodity vessels transited on Aug. 16 and none were registered for Aug. 17, versus 31 over the prior weekend. Brent crude rose toward $89 a barrel after attacks on Abu Dhabi National Oil Company tankers and a Saudi Aramco refinery fueled supply fears.