Oil prices rise as U.S. and Iran appear locked in a costly stalemate
Oil prices are rising as tensions persist between the U.S. and Iran, with no breakthrough in efforts to end the two-month conflict. Iran has proposed reopening the Strait of Hormuz if the U.S. lifts its military blockade, but has made no concessions on its nuclear program. Meanwhile, Iran criticized U.S. influence abroad and revised down the death toll from a U.S. missile strike on a school in Minab to 155.
- ▪Iran offered to reopen the Strait of Hormuz to commercial shipping if the U.S. ends its military blockade of Iranian ports and vessels.
- ▪The U.S. military's preliminary investigation attributes the strike on an Iranian elementary school to a targeting error involving a Tomahawk cruise missile.
- ▪Iran's foreign minister rejected the idea that the school attack was accidental, calling it a 'calculated, phased assault' despite U.S. claims of a mistake.
- ▪President Trump canceled plans for U.S. envoys to attend direct talks with Iran in Pakistan, demanding Tehran come to the U.S. instead.
- ▪Hezbollah's leader dismissed U.S.-brokered negotiations between Israel and Lebanon, undermining regional ceasefire efforts.
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World Oil prices rise as U.S. and Iran appear locked in a costly stalemate By Tucker Reals, Tucker Reals Editor Tucker Reals is CBSNews.com's foreign editor, based in the CBS News London bureau. He has worked for CBS News since 2006, prior to which he worked for The Associated Press in Washington, D.C., and London. Read Full Bio Tucker Reals, Emily Mae Czachor Emily Mae Czachor News Editor Emily Mae Czachor is a reporter and news editor at CBSNews.com. She typically covers breaking news, extreme weather and issues involving social justice. Emily Mae previously wrote for outlets like the Los Angeles Times, BuzzFeed and Newsweek.
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