US-Iran peace talks broke down after Trump threatened the lives of Iran's negotiators, a bad sign for ending the conflict.

• Iran's delegation walked out of talks in Switzerland after Trump threatened to kill them if Iran closes the Strait of Hormuz.
• Trump floated having the US "take over" the strait and skim 20% of the oil passing through it.
• A temporary deal lets ships pass through Hormuz toll-free for 60 days to ease the global energy squeeze.
• US gas and oil prices have stayed lower only because America has been draining its emergency oil reserves, which are running low.
• A real peace deal would require cutting off weapons to Israel, which keeps bombing Lebanon and pulling the US back toward war — and there's no sign Washington will do that.

Outlook: The truce looks like a short-term release valve, and fighting is likely to restart once the 60 days run out.