US-Iran War LIVE: Crude oil prices can hit $200 per barrel if Hormuz chokehold continues, Wood Mackenzie report warns

Key points

• US-Iran War LIVE: Iran said the latest proposal from the US partly bridged the gap between the warring sides, but comments from the Islamic Republic’s supreme leader about keeping Tehran’s uranium stockpile and a dispute over tolls in the Strait of Hormuz clouded the outlook for a breakthrough.
• Tehran is in the process of responding to a text submitted by the US, which “has narrowed the gaps to some extent,” the semi-official Iranian Students’ News Agency reported on Thursday, without saying where it got the information.
• “Further narrowing requires an end to the temptation for war on Washington’s part.” While that signaled progress, a Reuters report that Supreme Leader Mojtaba Khamenei issued a directive that the country’s near-weapons-grade uranium should not be sent abroad initially sent oil prices higher.
• Then President Donald Trump said he opposed efforts by Iran and Oman to establish some form of permanent toll system through...