US-Iran Talks Stalemate: Trump Gives "Last Chance" as Oil Prices Drop Sharply

Published: Aug 4, 2026 09:13

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[SMM Precious Metal Express] US-Iran talks remain in a "Rashomon" stalemate. Trump stated negotiations are ongoing and the Strait of Hormuz may reopen by Tuesday at the latest, calling it Iran's "last chance," while Iran reportedly rejected the latest US proposal, insisting the strait will not fully reopen until the war ends. Geopolitical risk premiums cooled sharply, with WTI crude closing down 7.42% at $78.72 and Brent down 5.92% at $83.07, though the risk of reversals remains.

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