Planned peace talks in Islamabad scheduled for the weekend never happened after delegations from both the US and Iran pulled out.

Oil prices rose Sunday after an Iranian official warned that the Strait of Hormuz will “under no circumstances” return to its previous state.

IANS Washington, April 25: The United States has escalated its sanctions against Iran by targeting a refinery in China and numerous vessels involved in the Iranian oil trade, aiming to diminish Tehran's energy revenue.

A surge for Intel following a blowout profit report led the U.S. stock market to more records Friday, while oil prices kept yo-yoing in the wait for what’s next with the Iran war. The S&P 500 climbed 0.

Oil prices rose on Friday morning over fears of renewed military escalation in the Middle East after Iran released footage of commandos boarding ​a cargo ship in the Strait of Hormuz and on reports Tehran's air ‌defences had engaged "hostile targets".

The supply shock caused by the ongoing standoff in the Strait of Hormuz is spreading to the United States, driving up energy prices, increasing shipping costs, and creating shortages in key goods and materials.