US-Iran Deadline Expires With No Deal as Tehran Turns Defiant
The 60-day window for a broader US-Iran agreement and the reopening of the Strait of Hormuz expired on Monday with no deal in sight, and Iran warned it would shift to an “offensive military posture”. Tehran claimed to have reached a separate arrangement with Oman on shipping access, a claim not independently confirmed. Oil held near $89, elevated but not spiking, as Gulf shipping slowed further.
The deadline’s quiet passing may matter more than any single attack: the diplomatic track that was supposed to end the crisis now has no clock, no framework and precious little trust, and reports that Iran spent the window expanding its missile and drone production suggest Tehran was hedging all along. The “offensive posture” warning may be bluster for a domestic audience, but it raises the cost of any miscalculation in a strait already emptied of much of its traffic. Markets’ restraint — oil grinding higher rather than leaping — reflects a standoff priced in, not a crisis resolved. Watch whether Iran acts on its warning and whether any diplomatic channel revives.