Pakistan says US-Iran Hormuz talks near deal as oil eases
Why it matters: The strait carried about a fifth of global oil and LNG before the Feb. 28 conflict, making any reopening a major supply risk shift.
Pakistan's defense minister said the United States and Iran are close to an arrangement over the Strait of Hormuz, offering a rare upbeat signal in talks that have swung between threats and demands. Khawaja Asif told reporters in Islamabad that developments were moving "in favour of peace," while Al Jazeera reported that Iran and Oman had reached an advanced stage in discussions on reopening the waterway to some shipping. Oil prices gave up earlier gains after the comments. The optimism came even as President Donald Trump hardened his position on Aug. 10, demanding reparations from Tehran and saying the terms would be built into future negotiations. The latest exchange underscored how fragile any pact remains as shipping incidents and regional attacks continue.
Sources
Earlier in this story
- 4 hours agoPakistan says US-Iran Hormuz talks near deal as oil easesreading now
- 13 hours agoIran Holds Opening of Strait of Hormuz Pending U.S. Demands
- 17 hours agoTrump opts to pressure Iran’s economy as Hormuz dispute drags on
- 17 hours agoTrump Opts for Economic Pressure on Iran, Delays New Strike Option
- 20 hours agoTrump and Iran clash over reparations as Hormuz standoff hardens
- 32 hours agoTrump demands Iran pay compensation as waterway dispute deepens
- Aug 10Trump shifts to economic pressure as Iran stalls Hormuz deal
- Aug 10Iran sets new U.S. terms, stalling Strait of Hormuz reopening
- Aug 10Top U.S. general maps exit strategy from war with Iran
- Aug 10Trump seeks Iran war end as he weighs fallout at home
- Aug 9Iran nears Oman shipping deal but keeps Hormuz shut for now