Tensions in the Strait of Hormuz escalated over the weekend as Iran reinstated restrictions on vessel traffic, claiming the waterway was closed due to security threats. This move follows a series of Israeli airstrikes in Lebanon, targeting what they described as 'saboteurs' violating a ceasefire linked to Iran's maritime policies. The US military is reportedly preparing to board Iran-linked oil tankers to compel Iran to reopen the strait, which is crucial for global oil transit, accounting for about 20% of the world's oil and liquefied natural gas traffic. President Donald Trump expressed a tough stance against Iran, stating that they cannot 'blackmail' the US, while also indicating ongoing negotiations. Despite earlier optimism for a peace deal, these recent actions have raised doubts about the stability of any potential agreement. Oil prices reacted to the uncertainty, with Brent crude dropping 9% to around $90 per barrel, reflecting fears of continued conflict. Analysts suggest that while a deal may be on the horizon, it is unlikely to lead to lasting peace, with both sides still holding firm on key issues, including Iran's nuclear program.