Oil surges, Hormuz shuts again as US pressure rises and Iran weighs peace negotiations

Iran has informed mediators that it will send a delegation to Islamabad on Tuesday (April 21, 2026) to take part in negotiations, according to the Wall Street Journal, citing "sources".
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Until late on Monday (April 20), the talks were in limbo as Tehran said it had not decided whether to attend a new round of peace negotiations with the US.
President Donald Trump has vowed no let-up in a blockade and threatened to start bombing again when ceasefire ends on Wednesday night.
Islamabad was noticeably preparing for a second round of talks on ending the war that has engulfed the Middle East and shaken global markets.
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