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Ship crossings through the Strait of Hormuz remain drastically below normal levels, with fewer than 20 vessels transiting over the weekend and traffic about 90% below pre-conflict baselines, according to Kpler and UKMTO data. The decline comes amid renewed threats between Washington and Tehran, while Asia's refined fuel imports have fallen sharply and refining margins stay elevated.
US President Donald Trump announced plans to meet North Korean leader Kim Jong-un later this year, citing their personal rapport and Pyongyang's 57 nuclear weapons. The announcement follows his decision to scale back joint military drills with South Korea, drawing mixed reactions from Seoul, Pyongyang, and US lawmakers.
Ship crossings through the Strait of Hormuz rose slightly on Monday but remained in single digits, according to Kpler shiptracking data. The uptick follows a weekend slowdown attributed to strikes on UAE vessels, as US-Iran peace talks remain stalled.
Iranian President Masoud Pezeshkian called for an end to the war with the US, saying Iran was negotiating from a position of strength, even as the partial truce agreed in June expired without renewal. His remarks come amid a reported push by Iranian moderates to revive the economy, while hardliners reportedly favor prolonging the conflict.
Oil prices fell more than 1% on Monday as investors booked profits ahead of a US announcement on new sanctions against Iran. Treasury Secretary Scott Bessent is set to unveil what he calls an 'economic D-Day,' while analysts debate the effectiveness of the measures and the risk of Iranian retaliation.
As the US prepares new economic measures against Iran, its leaders face mounting internal pressures from inflation, unemployment, and disrupted trade. Amid warnings from officials and public figures, the regime balances hardened rhetoric with cautious calls for an end to the war.
The 60-day window for a final US-Iran agreement expired with no deal, as President Trump called for Iran's 'white flag of surrender' and his administration prepared unprecedented economic pressure. Iranian officials countered with accusations of 'economic terrorism' and defiance, highlighting a standoff over the Strait of Hormuz.
Talks between Israeli Prime Minister Benjamin Netanyahu and US envoy Jared Kushner on the Gaza ceasefire deal ended without progress, with Netanyahu insisting on Hamas's disarmament first. Hamas, meanwhile, demands an Israeli withdrawal from the 60% of Gaza it occupies.
President Trump declared on Truth Social that Iran cannot possess a nuclear weapon 'in any way, shape or form' as the 60-day ceasefire agreement signed in June expired Monday, with no permanent peace deal reached. Iran rejected the deadline, citing 'gross and widespread US violations' and saying it does not formulate policy under pressure. In related developments, US envoy Jared Kushner pressed Israeli Prime Minister Benjamin Netanyahu to accept a Gaza peace plan, while Hunter Biden and Bill Maher sparred over Kushner's role on 'Real Time.'
US President Donald Trump has threatened military action against Oman if it impedes efforts to end the conflict with Iran, saying he views the Strait of Hormuz as 'American territory'. Russia has condemned the threats as pressure tactics, while Iran's foreign minister called US sanctions threats 'doomed to fail'.
Yemen's Houthis said they struck a Saudi oil tanker in the Red Sea, while the UK Maritime Trade Operations reported a tanker hit by an unknown projectile off Yanbu. Saudi shipping firm Bahri confirmed its vessel was involved and all crew were safe. The incident is part of a Houthi maritime blockade declared against Saudi Arabia last month.
Iran's foreign ministry spokesperson announced an agreement in principle with Oman on a new maritime transit route for the Strait of Hormuz, with details still being finalized. The development comes amid ongoing US-Iran tensions and a looming deadline for a broader deal, while a separate report frames the situation as continued talks rather than a final agreement.
Iranian Foreign Ministry spokesman Esmail Baghaei said negotiations with Oman on Strait of Hormuz security have been delayed due to US and Israeli interference, while Tehran and Muscat work on a mechanism to ensure safe passage. Baghaei also reiterated Iran's refusal to accept US conditions for ending the Middle East conflict, warning that countries hosting US troops could face consequences.
Five months into the war, Iran's blockade of the Strait of Hormuz has cut oil traffic by 90%, defying US claims of control and prompting cautious NATO-facilitated talks. As Tehran asserts sovereignty over the waterway, the world faces an energy crisis with no easy resolution.
Bangladesh has said it is open to joining the Saudi Arabia-Pakistan-Turkiye defence pact, with two junior ministers stressing any decision hinges on national interests. Meanwhile, reports of an invitation for Iran to join remain unconfirmed, with Tehran denying receiving any official proposal.
A Financial Times report citing sources close to Tehran says Iran has assessed striking US military assets in southeastern Europe, including bases in Bulgaria and Cyprus, if President Trump escalates the conflict. NATO says it is prepared to defend allies, while Bulgaria and Cyprus have taken precautionary measures and Cypriot officials deny the threat.
As the US-Iran Memorandum of Understanding set to expire on Monday, Iranian President Masoud Pezeshkian called for ending the war from a position of strength, while Foreign Minister Abbas Araghchi said no decision has been made to restart negotiations. The US is preparing intensified sanctions, and analysts note Iran's increased leverage.
Shipping through the Strait of Hormuz remains severely restricted, with Iranian oil exports largely blocked by a US naval blockade while rivals use covert methods to keep crude flowing. Experts describe a stalemate where both sides face limits, but Iran's political resilience and military capabilities may allow it to outlast American pressure.
Iranian and Omani foreign ministers have discussed practical steps for a temporary maritime corridor through the Strait of Hormuz amid sharply reduced shipping. Iranian officials stressed the talks are separate from any reopening decision, which they tied to U.S. conditions, while President Trump said he would designate the waterway U.S. territory.
President Donald Trump has vowed an intensified economic campaign against Iran, with Treasury Secretary Scott Bessent signaling unprecedented measures as soon as next week. Options include secondary sanctions on Chinese refiners and banks, while Iran’s key oil trade with China and ties to neighboring countries complicate enforcement. Officials and analysts outline the scale of existing sanctions and the constraints on further pressure.