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US Vice President JD Vance has stated that no tolls will be charged for ships passing through the Strait of Hormuz, countering a proposal reportedly submitted by Oman. Vance also expressed confidence in a US-Iran mechanism to keep the waterway open, noting that around 15 million barrels of oil have already been transported.
As US envoys arrive in Qatar for talks, Iran and Oman have agreed to discuss the future administration of the Strait of Hormuz, with proposals for service fees and a temporary no-charge period. Qatar opposes tolls, while Iran links progress to $3 billion, and Washington insists on free passage.
Washington and Tehran are sending delegations to Doha for indirect technical talks mediated by Qatar and Pakistan, focusing on the Strait of Hormuz, Iran's nuclear program, and the release of $6 billion in frozen funds. However, Iranian officials insist no direct meetings with the US are planned, contradicting President Trump's claim that talks would take place.
US envoys have arrived in Doha for talks with mediators, not direct negotiations with Iran, according to Qatar's foreign ministry spokesman. The development follows a US official's statement that both sides would 'stand down for now' and technical talks would continue, though Iran's deputy foreign minister has denied plans for such talks this week.
Global markets faced a turbulent week as a sell-off in AI and tech stocks raised concerns about frothy valuations, with major indices and Asian chipmakers hit hard. Yet analysts note the downturn may be a stress test rather than a bubble bursting, while California's proposed billionaire's tax adds political intrigue.
South Korean stocks closed nearly 1 percent higher on Tuesday, led by technology shares, as investors monitored possible U.S.-Iran talks in Qatar. The KOSPI rose 81.83 points to 8,476.47, while the won weakened against the dollar and bond yields fell.
The United States and Iran are set to resume peace negotiations in Doha, following a series of strikes and drone attacks that threatened to derail the process. Both sides have agreed to a 60-day framework for deeper talks, according to the Jerusalem Post.
Regional instability from the Gulf conflict is dampening Pakistan's market sentiment, with foreign direct investment down 28% and bond outflows exceeding $2bn, even as remittances hit record highs and over 300,000 Pakistanis found Gulf employment in early 2026.
President Lee Jae Myung announced that all but two South Korean-operated vessels have left the Strait of Hormuz, following a preliminary US-Iran deal. He cautioned that the crisis is not over and called for continued crisis management.
South Korea plans to downgrade its resource security crisis warning for crude oil to Level 2 and fully lift the natural gas alert, citing stabilized global oil prices amid US-Iran peace talks. The government will also end the vehicle rotation system.
Yonhap reported South Korean stocks opened higher Tuesday, tracking overnight gains on Wall Street as easing Middle East tensions boosted investor sentiment. The KOSPI was up 0.68% at the open, before paring gains to 0.11% by 11:20, with major stocks showing mixed moves and battery shares falling.
President Trump has cast doubt on signing a bipartisan housing affordability bill, calling it "a big yawn," while demanding Congress first pass the Save America Act, which would tighten voter registration rules. The move has created tension between his administration's priorities on election reform and consumer affordability.
US President Donald Trump says talks with Iran will take place in Qatar on Tuesday, but Iranian officials say no direct negotiations are planned, as the Strait of Hormuz remains a flashpoint.
Iranian President Masoud Pezeshkian announced that $6 billion of $12 billion in frozen Iranian assets held in Qatar would be released, citing the interim deal with the U.S. as a victory. However, tensions remain high after recent attacks in the Persian Gulf and internal disagreements between civilian leaders and the IRGC over control of the Strait of Hormuz.
India dispatched a delegation led by Bihar Governor Syed Ata Hasnain and Minister of State for External Affairs Pabitra Margherita to Tehran for the funeral of Iran's Supreme Leader Ayatollah Ali Khamenei. The choice has drawn criticism from a former Indian ambassador, while President Pezeshkian has invited PM Modi to the burial ceremonies.
US petrol prices have fallen to an average of $3.86 per gallon, according to the AAA, as US-Iran peace talks continue amid ongoing clashes in the Strait of Hormuz. Oil markets remain volatile, with prices surging after President Trump announced fresh strikes against Iran, while the president's economic claims draw mixed reviews.
India and the US have made significant progress toward a trade deal, but key issues remain unresolved, including tariff advantages and agricultural market access. Domestic protests in India and legal setbacks in the US add further complexity.
Iranian and US technical teams are set to meet in Doha in the coming days to continue implementing a memorandum of understanding, after weekend strikes threatened the fragile accord. The interim agreement aims to end four months of conflict and reopen the Strait of Hormuz.
Following a weekend of tit-for-tat strikes that threatened to derail the interim peace deal, the US and Iran have agreed to halt attacks and resume technical talks. However, an Iranian official said no technical meetings are scheduled this week, even as reports suggest a meeting in Qatar was planned.
Ship tracking data shows a sharp fall in commercial transits through the Strait of Hormuz after Iran announced it was closing the waterway again, with reports of vessels slowing or halting. The US Central Command disputes closures and says it has helped over 800 vessels transit since early May.