President Donald Trump has described the latest round of negotiations with Iran as the 'last chance' to end the five-month conflict, even as Tehran denied that any talks were taking place.
Trump said new negotiations were starting, but Iranian officials disputed that account. The conflicting statements moved markets in different directions, according to the reports: CNBC said oil prices rose as Tehran denied negotiations, while Al Jazeera reported that oil prices fell as Trump claimed talks were under way. US stocks, however, were near record highs, with the benchmark S&P 500 approaching its all-time peak.
The war has also boosted fossil fuel prices, helping oil giant BP post profits that more than doubled again, according to Sky News.
Analysts said a deal on the Strait of Hormuz might be achievable, but a lasting peace agreement was still far off.