U.S.-Iran negotiations on reopening the Strait of Hormuz show signs of progress

Aug. 5 — The Middle East remains in focus as talks involving the United States and Iran over restoring navigation through the Strait of Hormuz show fresh momentum, though no formal deal has been sealed. Iran's Foreign Ministry said discussions with Oman on the strait have made "positive progress" on both technical and political fronts. Qatar's Foreign Ministry said draft versions of a possible U.S.-Iran understanding are circulating among the parties. It added there is still no confirmed schedule for direct U.S.-Iran talks, with contacts continuing via intermediaries and the timing of any agreement still uncertain. U.S. Secretary of State Marco Rubio said progress has been made and voiced hope an agreement could be reached soon. Sources said arrangements for a full reopening of the waterway could be announced within hours or by the next day. According to reports, an interim Iranian proposal would give Tehran control over vessels entering the strait, while Oman would coordinate the transit of outbound ships. Iran is also said to be weighing European participation in mine-clearing operations and may levy maintenance fees on European countries. Risks to shipping remain elevated. Iraq's Oil Ministry said tankers carrying Iraqi crude have passed through the strait. Separately, reports said an Indian vessel sank after being attacked by a drone boat near Hodeidah, Yemen, and the Greek cargo ship "Minos Pioneer" was struck by a missile on the Omani side, sparking an engine-room fire and leaving one crew member missing. The American Petroleum Institute said about 7 million barrels of oil move through the Strait of Hormuz each day. U.S. Central Command reported that as of Aug. 4, U.S. forces had rerouted 45 commercial vessels, rendered two vessels inoperable, and boarded and inspected two commercial vessels. On the conflict, Iranian President Masoud Pezeshkian said Iran will defend its territory but does not seek to prolong or widen the war. Reuters reported the U.S. Army has expended a large number of long-range, land-based missiles during the war with Iran. Separately, Yemen's Houthi movement said it carried out a drone strike on a "sensitive target" at Najran Airport in southwestern Saudi Arabia. In Israel, Prime Minister Benjamin Netanyahu said Israeli forces will not withdraw from Gaza until Hamas is fully disarmed. Hezbollah leader Naim Qassem said the resistance movement will continue its operations. Market attention has also turned to the impact on energy prices. With expectations of diplomatic de-escalation rising, international oil prices have fallen notably in recent sessions. Analysts say a workable passage arrangement for the Strait of Hormuz could ease supply pressures, but long-running U.S.-Iran tensions and broader regional security risks remain unresolved.