All articles tagged with #strait of hormuz
US Secretary of State Marco Rubio said negotiations with Iran to end the war may take a few more days, even as Washington carried out new strikes on Iranian missile sites and mine-laying ships near the Strait of Hormuz to safeguard maritime transit and global energy flows.
An anticipated U.S.–Iran deal could reopen the Strait of Hormuz, returning barrels to a tightened oil market and potentially spawning new tanker tolls or fees that raise shipping costs and impose a lasting risk premium; a 2–3 month ramp-up is expected after mines are cleared as Gulf production resumes, while pipeline projects aim to bypass Hormuz and U.S. shale output may rise as prices strengthen, reshaping the global oil balance.
Oil prices fell about 7% on Monday as optimism grew that the United States and Iran were moving toward a peace deal that could reopen the Strait of Hormuz, easing supply risks, with Brent dipping to around $96.30 a barrel and WTI near $90.88. Analysts warned the deal isn’t guaranteed and even if reached, full normal flows would take months; volume was light due to Memorial Day. Trump touted talks on Truth Social while Iran said it’s negotiating an end to the war, not nuclear issues.
Oil prices were mixed as investors weighed signs of progress in U.S.–Iran diplomacy against fresh U.S. self‑defense strikes in southern Iran. Brent climbed about 2% to $98.26 a barrel while July WTI futures fell roughly 5% to $91.73, with market nerves tied to Hormuz disruption and broader geopolitical risk. The U.S. said it conducted strikes on vessels and missile launch sites to protect troops. Trump’s messaging around the Abraham Accords and Iran talks added caution for traders. UBS warned of a tightening global oil market due to ongoing disruptions and falling on‑land stocks even as tanker storage rose as exports reroute to Asia, signaling undersupply amid persistent strains.
Qatar has emerged as a key intermediary in talks over Iran’s frozen assets, with Tehran demanding guaranteed access to about $12 billion in funds held in Qatar as a precondition for any deal with Washington. Reports flag a potential mechanism where Qatar temporarily releases funds to Iran with later U.S. reimbursement, while negotiators also weigh broader issues like the Strait of Hormuz, Tehran’s nuclear program, and sanctions relief. The diplomacy underscores regional mediation amid hardline skepticism on both sides and a race to secure a framework rather than a comprehensive agreement.
President Trump said negotiations to end the Iran conflict and reopen the Strait of Hormuz are moving forward but should not be rushed, insisting time is on the U.S. side and that both sides must get it right; the naval blockade stays in place until an agreement is reached, as supporters and critics weigh in on the potential deal.
The United States is close to a deal with Iran that would end the war, reopen the Strait of Hormuz, and require Iran to surrender its stockpile of highly enriched uranium, with a 60‑day negotiation window and sanctions relief tied to compliance; Trump urged not to rush, while talks include demining Hormuz, waivers to allow oil sales, and potential broader regional implications involving Israel and Hezbollah.
A plan to open the Strait of Hormuz roughly 30 days after a potential U.S.-Iran deal to end hostilities is being discussed, according to a Middle East diplomatic source cited by Nikkei.
Iran’s control of the Strait of Hormuz has given it leverage in talks that could end the war with sanctions relief and restraints on its nuclear program, potentially strengthening Tehran’s regional position; Trump’s political constraints and hawkish opposition could still push toward a less favorable agreement, worse than Obama’s, or risk deeper escalation.
Former CIA director David Petraeus says Iran appears to be blinking over the Strait of Hormuz, suggesting that a preliminary peace deal could open the strait without conditions as long as Tehran cannot control traffic, levy tolls, or threaten future closure; even with a deal, Iran’s nuclear program and funding for proxies remain issues, while its military could still threaten shipping through mining or drone attacks, and negotiators like Rubio say diplomacy should be given time to succeed.
Iran’s parliamentary speaker Mohammad Bagher Ghalibaf and foreign minister Abbas Araghchi travelled to Doha as mediators press to finalise a 60‑day ceasefire extension with Washington and reopen the Strait of Hormuz, with talks also touching on the release of overseas assets and phased sanctions relief; Pakistan and Qatar are mediating amid continued distrust, as both sides push to reach a deal.
CBS News live updates say Iran and the U.S. are close to a deal to end the war, including a 60-day ceasefire extension, reopening the Strait of Hormuz, and a framework for nuclear talks, but officials warn significant obstacles remain and no final agreement is imminent as regional players weigh in and mediators push broader accords.
US Secretary of State Marco Rubio says Washington will pursue 'another way' if talks with Iran fail to end the conflict, as mediators push a phased deal to reopen the Strait of Hormuz and extend the fragile ceasefire; President Trump cautions against rushing a deal, oil prices fall on the possibility of progress, and a senior official says any agreement would involve gradual demining and phased sanctions relief contingent on Iran's compliance. Talks in Tehran with Pakistan and Qatar could hinge on Tehran offering to dilute or hand over its stockpile of highly enriched uranium and establishing a framework for further nuclear talks, with Israel watching closely.
Even if the war ends and the Strait of Hormuz reopens, restoring full oil flow will take weeks to months: clearing bottlenecks, drawing down inventories, restarting Middle Eastern production, and repairing damaged infrastructure. Prices could ease if peace lasts, with Brent near the high $90s per barrel for much of this year, but the timeline hinges on credible passage guarantees, insurance costs, and Iran’s terms—so a rapid market reset remains unlikely.
Oil benchmarks Brent and WTI fell about 5% on optimism that a US-Iran peace deal could reopen the Strait of Hormuz, easing supply fears; Brent around $98.36 and WTI around $91.50 as Asian stocks rose, though analysts warn the market may stay tight through 2027 due to ongoing disruptions and the time needed to normalize flows and rebuild stocks.