New attacks on shipping as Iran war talks hit fresh impasse

AI Summary

The United States and Iran-aligned Houthi forces in Yemen reported separate attacks on shipping amidst stalled Iran nuclear negotiations. Tehran threatened to keep the Strait of Hormuz closed unless U.S. conditions are met. These developments caused oil prices to rise and global markets to fall amid uncertainty about conflict resolution.

By Elwely Elwelly and Parisa Hafezi DUBAI, Aug 11 (Reuters) - The United States and Yemen's Iran-aligned Houthis reported separate attacks on shipping on Tuesday as prospects for ending the five-month-old Iran war appeared to dim, with Tehran saying the Strait of Hormuz would remain closed unless Washington accepts its conditions. Oil prices gained and global shares retreated amid renewed pessimism about a quick end to the conflict. Brent crude futures climbed 1.4% to settle at $88.91 per barrel and U.S. crude rose 1.3% to $83.20.