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Oil prices climbed on Monday after U.S. President Donald Trump threatened renewed military action against Iran.
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The president's warning underscores persistent tensions even as Vance said in Switzerland that he hoped the two sides would "turn over a new leaf" in their relationship.
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At the Lake Lucerne summit, U.S. and Iranian officials are trying to keep a shaky peace effort alive after renewed violence and confusion over Hormuz. Former Ambassador Ryan Crocker talks about the need for strategic patience.
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Iran's military said it had closed the Strait of Hormuz in response to continued Israeli military strikes in Lebanon; the U.S. said it remains open.
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The first peace talks between the United States and Iran were postponed Friday, as Vice President JD Vance cancelled his planned travel to Switzerland and intense new Israeli strikes in Lebanon cast doubts on the deal to end the war.
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