US Expects Iran Peace Response Amid Renewed Gulf Fighting
Washington expects an Iranian response to its peace plan today as Gulf fighting flares. Oil prices rose to 101 dollars while the UAE intercepted missiles.
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The United States expects a response from Iran as soon as later on Friday regarding a proposal to end the Gulf conflict. Military clashes in the Strait of Hormuz intensified on May 8 despite a ceasefire announced on April 7. The waterway carries 20% of global oil and liquefied natural gas supplies, making regional stability critical to energy markets.
