Oil prices rise after the United States and Iran fail to reach agreement on a peace proposal, dashing hopes of an imminent end to the conflict. Multiple reports highlight that expectations for improved conditions around the Strait of Hormuz—an essential sea route for oil transit—were tied to the possibility of reduced tensions. When the US and Iran do not align on the terms of the proposed peace effort, traders respond by pricing in continued risk to regional shipping and supply. The news coverage frames the move in oil markets as a direct reaction to shifting prospects for diplomacy and the potential impact on energy flows through the strait. While the reports focus on the breakdown in negotiations and the resulting market reaction, they do not present new, confirmed details of the proposal itself or immediate changes to oil supply. Overall, the coverage links the jump in prices to renewed uncertainty about whether tensions will ease soon and whether oil transit through the Strait of Hormuz will become less constrained.