Talks to reopen the Strait of Hormuz stay 'in final stages' all week without closing
The week opened with oil markets waiting on a breakthrough and closed with them still waiting. Iran and Oman spent the days negotiating safe passage through the Strait of Hormuz, repeatedly describing the talks as in their 'final stages' — on the 7th, again on the 9th, again on the 12th — while the substance moved sideways. Iran tied any reopening to American concessions and warned Gulf states to press Washington; its Revolutionary Guard said reopening did not depend on the Oman track at all; the UAE accused Iran of striking an ADNOC vessel. The US hardened in parallel, with a helicopter strike disabling a ship attempting to run the blockade, and Tehran elevated hardliner Mohsen Rezaei to its top security post. Shipping sources called the proposed arrangements impractical; oil prices swung on each headline. A waterway that carries a fifth of the world's oil has become the negotiation itself — closed, priced daily, and always almost open.