Iran Halts Talks with U.S., Vows Full Closure of Strait of Hormuz in Retaliation for Ceasefire Violations

Iran says it will end indirect talks with the U.S. and seek to fully close the Strait of Hormuz.

The move follows alleged ceasefire violations and Israeli strikes in Lebanon and Gaza, deepening regional tensions.

Oil markets jumped more than 7% as traders priced in the risk of disrupted crude and LNG shipments.

A closure of the strait could roil global energy supplies, lift prices, and add to inflation pressure.