U.S. and Iranian negotiators held indirect talks in Doha with Qatari and Pakistani mediators and agreed to meet again after funeral processions for Iran’s former supreme leader. Disputes over the Strait of Hormuz, frozen Iranian funds, Lebanon and nuclear access remain unresolved.
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The International Maritime Organization paused an evacuation plan for stranded sailors after a Singapore-flagged cargo ship was struck near Oman. The attack comes amid disputes over routes, fees and safety guarantees under a new U.S.-Iran arrangement for the Strait of Hormuz.
Oil tankers used a U.N.-recommended route near Oman to leave the Persian Gulf despite Iran’s warning that unauthorized crossings of the Strait of Hormuz are prohibited. The crossings come amid U.S.-Iran disputes over control, fees and traffic rules under a temporary reopening agreement.
Brent crude has fallen to levels last seen before the Iran war as shipping through the Strait of Hormuz gradually resumes. The rebound in traffic follows a U.S.-Iran memorandum setting up 60 days of negotiations, though disputes over fees and vessel authorization remain.
The UN’s International Maritime Organization has begun evacuating more than 11,000 sailors stranded after the Strait of Hormuz was effectively closed during the US-Israel war against Iran. The operation follows a US-Iran memorandum of understanding, though disputes remain over inspections and the strait’s future.
Iran denied U.S. claims that it had agreed to allow IAEA inspectors back to damaged nuclear sites, even as talks with Washington produced a 60-day roadmap for a final deal. The dispute comes as the U.S. temporarily eased oil sanctions and traffic through the Strait of Hormuz rose to its highest level since the war began.
Despite a ceasefire between the US and Iran, traffic through the Strait of Hormuz remains far below normal levels, with only a handful of ships passing through the crucial oil shipping route. Iran’s restrictions and regional tensions continue to complicate safe passage.
The conflict between the United States and Iran has drastically reduced shipping traffic through the Strait of Hormuz by up to 95%, causing a sharp rise in oil prices and marine insurance premiums due to heightened risks of missile and drone attacks. Efforts to protect commercial vessels, including potential U.S. military escorts and expanded insurance programs, face delays and are unlikely to restore normal shipping until a ceasefire or de-escalation occurs. Meanwhile, the involvement of Iran-backed Houthi militants in missile attacks against Israel threatens further disruptions in the Red Sea and Bab el-Mandeb Strait, escalating the conflict into a broader regional crisis with significant impacts on global energy supply and maritime commerce.