Brent crude futures climbed in Monday trading as Iran declared it maintains full control of the Strait of Hormuz and has no intention of resuming peace negotiations with the United States.
The assertion of authority over the critical waterway comes despite a US-imposed pause in military operations, signaling that geopolitical risk premiums remain embedded in energy prices.
The statement, reported by La Nacion, underscores Tehran's defiant posture following President Donald Trump's decision to halt a two-week bombing campaign.
The statement, reported by La Nacion, underscores Tehran's defiant posture following President Donald Trump's decision to halt a two-week bombing campaign.
While regional sources indicate that backchannel negotiations are advancing, Iran's public messaging continues to emphasize unilateral control and warns Gulf neighbors against aligning with Washington.
This disconnect between diplomatic signals and on-the-ground rhetoric sustains uncertainty for shipping routes.
Markets are pricing in the persistence of shipping disruptions rather than an imminent de-escalation.