U.S. and Iran Resume Talks

The United States and Iran have agreed to halt hostilities and resume negotiations in Doha, Qatar, after days of tit-for-tat attacks threatened to unravel a preliminary deal to end the war. Oil prices rose on Monday due to the renewed military strikes, reigniting concerns over crude supplies from the Middle East.

Talks had been paused after Washington launched strikes on Iranian military sites in response to Tehran's attacks on commercial shipping in the Strait of Hormuz. However, both sides agreed to resume dialogue.

U.S. envoys Jared Kushner and Steve Witkoff are expected to arrive in Doha on Tuesday for high-level meetings. The Strait of Hormuz, a vital shipping route for oil and gas, has been blockaded since the war began in late February.

A memorandum of understanding signed on June 17 initiated a 60-day negotiation period toward a final deal to reopen the strait and permanently end the conflict. Iran reiterated its determination to control maritime traffic and seeks an agreement with Oman to oversee ships.