A senior U.S. official has dismissed Iran's latest peace proposal as insufficient, raising concerns that the ongoing conflict could escalate.
The statement comes amid reports that Iran is reviewing a new U.S. offer aimed at resolving the standoff, as previously covered by Bloomberg.
Markets have shown sensitivity to the renewed geopolitical uncertainty, with energy prices fluctuating as investors assess the risk of renewed hostilities in the region.
The Strait of Hormuz, a critical oil transit route, remains a focal point for traders monitoring potential disruptions.
The U.S. and Iran have been engaged in a tense diplomatic process, with earlier indications suggesting both sides were working toward a resolution.
However, the latest rejection signals a potential setback in negotiations, adding to the uncertainty surrounding the region's stability.