Collapse of US-Iran talks heightens fears of prolonged energy shock

Oil prices and borrowing costs are expected to rise this week as tankers remain stranded in the GulfMiddle East crisis live – latest updatesThe failure of the US and Iran to reach a peace deal after marathon negotiations has put markets on alert for further oil and gas price rises.With large numbers of oil tankers remaining stuck in the Gulf, the US vice-president, JD Vance, blamed the collapse of the talks on Tehran’s refusal to abandon its nuclear weapons programme, while Iranian sources hit back at “excessive” demands from Washington. Continue reading...