Oil prices increase after Iran doubles down on Strait of Hormuz closure, accuses US of undermining trust

ports would need to end before reaching an agreement.

Meanwhile, President Donald Trump canceled the US envoy to Islamabad at the last minute on Saturday after Iran refused to hold direct talks. Trump partially blamed the cancellation on “infighting” among Tehran’s leaders.

Peace talks have stalled ahead of the war’s two-month mark, prolonging oil disruptions continue reading …