Hormuz Deal Nears but the Strait Stays Shut
Iran said a deal to reopen the Strait of Hormuz was in its “final stages” on Thursday, after it and Oman agreed the coordinates for a shipping route, but the waterway remained closed and no agreement had been signed. Tehran stressed that even a deal would not by itself make the strait safe, and repeated its demand that the United States first lift its naval blockade of Iranian ports. Washington is insisting on “total freedom” of navigation, with no Iranian control or tolls.
The gap between the two sides remained wide despite the talk of progress: Iran wants joint management of the strait and an end to the blockade, while President Trump has vowed not to let Tehran “charge” ships to pass. Shipping groups have written to oppose any transit fees, wary of a precedent for the world’s busiest oil chokepoint. With the strait still shut, oil held around $80 a barrel, well below its wartime peak but above pre-crisis levels. No strike was reported overnight. Watch whether the coordinates turn into a signed deal, or the standoff drags on.