Iran makes new Strait of Hormuz demands
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Iran and Oman reach understanding on coordinates of route through Hormuz, Iran ministry says
DUBAI, Aug 5 (Reuters) - Iran and Oman have reached an understanding on the geographic coordinates for a shipping route through the Strait of Hormuz, and a joint announcement is being finalised, provided certain third parties did not interfere,
Oil prices settled 5% higher on Monday after Iran and the United States traded demands for compensation, dimming prospects for a deal to reopen the
Oman’s statement appears to indicate that the negotiations over the Strait of Hormuz are moving forward positively, which could suggest a shift towards a resolution. Market pricing suggests a slight increase in optimism for a U.S.-Iran agreement by August 31, with YES odds currently at 49%, up from 34.5% for an earlier August 15 deadline.
Iran said a Hormuz deal won’t fully reopen the strait. Trump said he would appeal a decision to halt his ballroom construction project to the Supreme Court. The U.S. economy lost 23,000 jobs in July.
US-Iran war news LIVE: Oil prices extended gains on reports that Iran attacked “hostile targets” in the Strait of Hormuz, with Tehran seeking to bar US ships from the critical waterway in a deal with Oman.