Trump stated that the United States and Iran have engaged in positive exchanges and could soon reach an agreement, but warned of "strong retaliation" if the outcome is unsatisfactory.
Iran announces it is nearing an agreement with Oman on a mechanism for managing Hormuz, emphasizing the strait's situation will not return to its pre-conflict state.
Despite a temporary lull in fighting, Iran is not rushing to resume talks with the US, seemingly believing it can better withstand pressure and holds an advantage in Hormuz.
President Donald Trump announced a shift from his proposed "protection fee" for ships transiting the Strait of Hormuz, opting instead for trade and investment agreements with Gulf allies.
Iran announced it fired 'warning shots' at two vessels attempting to cross the Strait of Hormuz, as clashes between Tehran and Washington reignite in the strategic waterway.
Despite escalating tensions in the Middle East, oil prices have only fluctuated by a few USD as the market has gradually adapted, supply has increased, and demand has decreased.
