Hormuz Deal Still Unsigned as Trump Grows Frustrated
A deal to reopen the Strait of Hormuz remained unsigned on Thursday evening, and the strait stayed shut, despite what President Trump said had been “all-day” talks. Iran played down the prospect of a breakthrough, its state media casting the emerging arrangement as merely “new arrangements” for managing traffic rather than a full reopening, and insisting it was talking only to Oman, not Washington. Mr Trump was reported to be increasingly exasperated, and oil prices climbed back towards $83 a barrel as hopes of a swift deal cooled.
The gap between the American and Iranian accounts was as wide as ever: Mr Trump spoke of active negotiations and a deal within days, while Tehran denied any direct contact and warned that even an agreement would not make the strait safe. Iran is reported to be seeking control of the waterway for sixty days, without tolls, in return for the lifting of the US blockade — terms Washington has not confirmed. The renewed uncertainty, together with strikes on oil facilities elsewhere, sent crude sharply higher, unwinding part of the week’s de-escalation. After a fortnight of false dawns, the outcome remains unresolved. Watch whether a deal is signed, or the standoff hardens.