US, Iran defer uranium talks as Hormuz dispute keeps Brent above $108

The U.S. and Iran appear to have postponed negotiations over Tehran’s highly enriched uranium stockpile, leaving a major obstacle unresolved as both sides seek to end an 11-week war that has disrupted energy flows through the Strait of Hormuz. Iranian Foreign Minister Abbas Araghchi said on May 15, 2026, that Tehran and Washington agreed to address the uranium issue later in talks, calling it “very complicated.” President Donald Trump said he could send U.S. forces to remove Iran’s uranium “at the right time,” signaling no imminent operation. Brent crude rose 2.4% to above $108 a barrel, extending gains since the war began to 50%, while stocks and bonds fell on inflation concerns. The Strait of Hormuz carried about one-fifth of global oil and liquefied natural gas before the conflict. Iran said it would allow Chinese vessels to transit the waterway, while the U.S. said it has stopped 72 commercial ships since imposing restrictions.