The Economic Times

Pakistan sees US-Iran deal close as Hormuz standoff drags on, Trump toughens stance

Pakistan's defense minister indicated a potential US-Iran arrangement regarding the Strait of Hormuz. Oil prices reacted to these conflicting statements about ongoing negotiations. US President Donald Trump toughened his stance on reparations and future talks. Regional incidents and attacks on energy infrastructure continue to tighten markets. The effective closure of Hormuz significantly impacts global trade and economies.