US-Iran Talks Stall on Uranium and Hormuz as Oil Markets Brace for New Volatility

US-Iran negotiations remain stuck on two of the most sensitive issues in the broader diplomatic process: uranium enrichment and the Strait of Hormuz. Reports from the latest talks indicate that no final agreement has been reached, keeping global markets on edge and leaving oil traders to price in the risk of further escalation. The reason these talks matter so much is that they go far beyond diplomacy. Uranium enrichment touches the core of the nuclear debate, while the Strait of Hormuz is one of the most important shipping corridors in the world. Any uncertainty around either subject has immediate consequences for energy prices, freight costs and investor sentiment. Oil markets have already shown how sensitive they are to these developments. CNBC reported that prices resumed their rally as the diplomatic process stalled, while Reuters earlier noted that oil had jumped more than 2 per cent when the negotiations failed to advance. The pattern is familiar: when political uncertainty rises in the Middle East, energy traders move quickly to protect against supply shocks. What makes this round especially important is that the disagreement appears to be structural rather than…