World·Iran / Hormuz
Update: Oil jumps after Hormuz tanker fires; Tehran sends nuclear proposal via Qatar with seven demands
Fox News, citing Reuters, reported Brent crude settled up $3.67, or 3.88%, at $98.29 a barrel Thursday and U.S. West Texas Intermediate rose $2.40, or 2.72%, to $90.52 after fresh tanker attacks renewed supply fears; Iran's IRGC said two tankers and a tugboat caught fire in the Strait of Hormuz, with at least one blaze after a tanker struck an Iranian undersea mine. Tehran submitted a formal nuclear proposal to the United States through Qatari intermediaries Thursday, making further talks contingent on Washington addressing seven demands including compensation, an end to sanctions and the naval blockade, and a reduced U.S. military presence, Fox reported, citing officials and Reuters. Trump told reporters Iran needs U.S. approval for decisions on its nuclear future and described the American military presence as 'virtually an occupation.'
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