Iran Suspends US Talks, Closes Strait of Hormuz Over Israeli Strikes

Iranian negotiators have suspended high-stakes talks with the United States in Switzerland, according to weekend updates. The move follows Iran's decision to close the Strait of Hormuz on Saturday, citing Israeli attacks on Lebanon.

The closure of the strategic waterway, through which about a fifth of global oil passes, marks a sharp escalation in the region. Reports indicate renewed peace efforts are ongoing, but no breakthrough has been reported.

Markets are likely to react to the disruption in oil supply routes and heightened geopolitical risk, particularly in currencies and commodities linked to the Middle East.