
US military forces implemented a naval blockade at Iran's Strait of Hormuz ports Monday following collapsed negotiations in Islamabad. Oil prices declined as expectations grew for possible second-round talks. US crude fell 1.7% to $97.37 per barrel, Brent crude dropped 0.9% to $98.49. Former Indian diplomat Ausaf Sayeed discussed whether India could mediate, noting India's strategic autonomy but current constraints limit its leverage with both Washington and Tehran.