IRAN-US TALKS CONTINUE, REPORTS DEAL IS CLOSE ARE WRONG

And Israeli media: "At least once, the US Trump administration was 'very close' to approving an attack on Iran" i24 Stein's reports citing sources. Oil bouncing back on the Iranian rejection headlines, and despite...

RUBIO: OIL GOING THROUGH HORMUZ NEARLY EQUAL TO BEFORE WAR

Update(1035ET): This past weekend Iranian Foreign Minister Abbas Araqchi said that his country's offer to the United States to reopen the Strait of Hormuz within seven days is still on the table. 

By Tuesday morning, we have a return of another round of 'deal imminent'-style headlines, which has gained more visibility over the last couple hours, resulting in oil prices tumbling:

Mediation efforts said that "Qatar and Pakistan presented a 'compromise proposal' that meets the demands of both the American and Iranian sides", Al Araby Al Jadeed reports citing sources.

Another bout of pressure in the crude complex as the earlier reports via Al Araby Al Jadeed related to a "compromise proposal" gets wider airing; a move which is lifting the ES

On Tuesday the UK Maritime Operations Centre has reported a new incident around 121 nautical miles east of the Omani coast.

The UKMTO announced the vessel was "subject to interaction as part of ongoing military activity in the region" at around 10am GMT. Regional reports say two tankers are on fire. But Tehran is boasting of a fresh sea mine attack, amid daily ramped-up assaults on international shipping as it tries to hold on to leverage over the United States and global oil transit.

The Iranian side filled in more information, with the Islamic Revolutionary Guard Corps (IRGC) describing that "Two violating oil tankers were set ablaze and halted due to the explosion of mines planted by the brave sailors of the IRGC Navy at an illegal crossing point in the southern part of the Strait of Hormuz," according to a statement published on their official Sepah News website.