Iran, Oman Discuss Strait Safety for 20% of Global Oil as US-Iran Tensions Escalate
Updated
Updated · PBS NewsHour · Jul 11
Iran, Oman Discuss Strait Safety for 20% of Global Oil as US-Iran Tensions Escalate
3 articles · Updated · PBS NewsHour · Jul 11
Summary
Iran and Oman agreed Saturday to keep technical and political talks going on safe passage through the Strait of Hormuz after days of ship attacks and U.S. retaliation.
Abbas Araghchi said the talks focused on mechanisms to protect shipping, while Washington pressed Tehran to publicly guarantee the waterway is open and vessels will not be attacked.
The dispute has widened beyond navigation: Iran says the U.S. violated the interim deal by ending dollar-based crude waivers, while Trump threatened fresh missile strikes after calls for his assassination surfaced at Khamenei's funeral.
Mojtaba Khamenei, in his first statement since succeeding his father, vowed revenge for Ayatollah Ali Khamenei's killing as new strikes and counterstrikes left at least 17 dead and 115 wounded in Iran.
The strait carried about a fifth of traded oil and gas before the war, and Iran's wartime grip on it helped trigger a global energy crisis despite oil retreating from $120-a-barrel highs.
How are Gulf nations maneuvering as the fragile US-Iran peace deal teeters on the brink of collapse?
As talks continue, will the Strait of Hormuz ever return to being a truly free and international waterway?
With a peace deal signed, are Iran's hardliners truly rogue, or is this a calculated strategy to test American resolve?
Global Markets in Turmoil: The 2026 Strait of Hormuz Closure and Its Far-Reaching Consequences
Overview
In July 2026, the Strait of Hormuz faces a severe crisis as military actions between Iran and the US rapidly escalate. After multiple attacks on vessels, both sides launch strikes across the Gulf region, creating a highly volatile and dangerous environment. This has led to a near-total halt of shipping through the world’s most critical maritime chokepoint, disrupting global energy and trade flows. The situation remains tense, with the risk of further conflict and significant global repercussions if diplomatic efforts fail to restore stability and reopen the vital waterway.