Strait of Hormuz Talks Stall, Oil Prices Spike Again

Oil prices have surged again due to the lack of progress in talks to unblock the Strait of Hormuz. The US, Iran, and Oman have yet to reach an agreement, leading to increased tensions in the Middle East. After a brief drop following Trump's statement on signing an agreement to open the strait, oil prices rose by 5.9% to $83.5/barrel.

The proposed deal would require ships belonging to the US, Israel, or countries that 'harmed' Iran to be banned from passing through the Strait of Hormuz, limiting oil exports from certain Gulf countries. However, this condition is unacceptable to the US, and negotiations are expected to continue.

In related news, Yemeni Houthi rebels have attacked and sunk an Indian cargo ship and a Saudi tanker in the Red Sea, further escalating tensions in the region. The attacks are seen as an attempt by Iran to increase pressure on the US through its proxies.