Iran Talks Show Cracks as Hormuz Closure Returns

Negotiations between the US and Iran showed cautious signs of progress Saturday, but the Strait of Hormuz remains a flashpoint. Iranian Parliament Speaker Mohammad Bagher Ghalibaf acknowledged movement in talks while warning that “a big distance” still separates the sides. Hours later, Iran reversed a brief reopening of the strait, citing a continued US blockade of Iranian ports. Revolutionary Guard forces fired on at least one tanker. Oil markets, which had surged on the strait’s reopening Friday, whipsawed again. A second round of Pakistan-mediated talks is expected before Wednesday’s ceasefire expiration.