Rising Tensions Threaten Oil Supplies and Global Living Costs
Hopes of a deal to reopen the Strait of Hormuz have weakened after US President Donald Trump demanded that Iran pay compensation for people killed or injured in conflicts and attacks.
Iran has also demanded compensation for damage it says was caused by US and Israeli strikes, highlighting the deep differences between the two sides.
The standoff is raising fresh concerns about the future of the vital shipping route, through which a significant share of the world's oil supply passes.
Why It Matters
A prolonged disruption could push oil and petrol prices higher, increasing transportation and production costs. That could eventually mean more expensive food, goods and services for households around the world.
Shipping companies are also facing higher security, insurance and operating costs as uncertainty continues around the waterway.
No Quick Breakthrough Yet
With Washington and Tehran still divided over key conditions, hopes of an immediate agreement appear to be fading.
For ordinary people, the biggest concern is simple: the longer Hormuz remains disrupted, the greater the risk of higher energy prices and renewed pressure on household budgets.