Live Updates: Oil prices rise as U.S. and Iran appear locked in a costly stalemate
Iran has offered to reopen the Strait of Hormuz to commercial shipping if the U.S. drops its military blockade, but the offer doesn't include concessions on Iran's nuclear program. The U.S. and Iran clashed over Tehran's nuclear program at the U.N.'s review of the atomic treaty.
Iran has offered to reopen the Strait of Hormuz to commercial shipping if the U.S. lifts its military blockade of Iranian ports and vessels. The offer doesn't include concessions on Iran's nuclear program, which President Trump insists must be dismantled. Treasury Secretary Scott Bessent warned foreign governments against doing business with sanctioned Iranian airlines, risking U.S. sanctions. At the U.N., the U.S. and Iran clashed over Tehran's nuclear program during a review of the Nuclear Nonproliferation Treaty. Dozens of nations, led by Bahrain, called for reopening the Strait of Hormuz. U.S. and Iranian officials exchanged criticisms at the U.N. review conference.
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