Iran says no progress on interim peace deal with US — Reuters

The United States (US) and Iran remain at ​loggerheads over efforts to agree a permanent end to the war in the Middle East, Reuters reported on Wednesday. A senior Iranian source said that there had been no progress in talks to revive the interim deal agreed in June and to define a time frame for its implementation.

US President Donald Trump said on Wednesday that Washington has "total control" over the Strait of Hormuz. Iran pushed back on Trump’s claim, insisting the critical waterway remains blocked.

US Central Command (CENTCOM) continued to pressure Tehran, with its port blockade on Wednesday forcing dozens of ships to change course as its fighter jets stepped up operations from the USS George H.W. Bush, deployed in the region.

Elsewhere, Iran-backed Houthi rebels killed six people aboard a cargo ship in the Bab el-Mandeb Strait on Tuesday. Within hours, the US military said it had fired missiles at a container ship that allegedly attempted to breach Washington’s blockade of Iranian ports in the Gulf of Oman.

Market reaction

At the time of writing, the West Texas Intermediate (WTI) is up 0.11% on the day at $82.90.