Oil prices have experienced a significant uptick, with Brent crude surpassing $111 per barrel, fueled by escalating tensions between the U.S. and Iran as peace talks stall. The ongoing deadlock has raised fears of supply disruptions, particularly with the Strait of Hormuz remaining closed and Iran doubling down on threats to keep it that way. As the situation evolves, traders are weighing the potential implications of renewed conflicts and U.S. proposals aimed at reopening critical shipping routes. Markets are showing mixed reactions, with oil prices climbing over 2.5%, while equities struggle under the weight of geopolitical uncertainty.