Oil prices increased following Iran’s extensive demands regarding the Strait of Hormuz, effectively stalling negotiations. These demands come as the US has announced further sanctions against Iran, escalating tensions in the region. The situation raises serious questions about the future of talks aimed at restoring the 2015 nuclear deal. Former President Trump stated the US is only “semi-negotiating” with Iran, signaling a cautious approach. The heightened uncertainty is impacting global energy markets, driving up the cost of oil. Further developments are expected as both sides assess their next steps. NBC News correspondent Keir Simmons is reporting on these unfolding events.