
8 days · 11 summary articles
Iran’s Revolutionary Guards said on Sunday the Strait of Hormuz will remain closed until the United States meets a list of demands, including lifting its naval blockade, withdrawing military forces from around Iran, and paying war reparations. The head of Iran’s Supreme National Security Council, Mohammad Bagher Zolghadr, outlined six conditions, among them a permanent end to U.S. wars against Iran and its allies in Lebanon, Gaza, Yemen and Iraq, the lifting of all sanctions, and the release of frozen Iranian assets .
U.S. President Donald Trump told Axios on Sunday that Washington is “low-keying it” with Iran, opting for economic pressure over new military strikes. “We are only semi-negotiating with them. We are just watching Iran with its huge inflation and the fact they have no money,” Trump said, adding that Iran is in “very bad shape” financially and struggling to pay its troops. He described the standoff as “like a chess game” and said oil prices at slightly over $75 a barrel have eased the impact on U.S. consumers .
Iran and Oman have said a deal defining new shipping lanes in the strait is in its final stages, but Tehran insists the waterway will not fully reopen until the U.S. meets its demands. Iran’s foreign ministry confirmed the talks with Oman had reached their “final” stages, while U.S. officials said an agreement was close but had yet to be announced .
Meanwhile, Yemen’s Iran-aligned Houthis claimed a drone attack on [Saudi Arabia’s](en.wikipedia.org) Jazan refinery, which processes 400,000 barrels of crude oil per day. Saudi authorities reported a fire that was extinguished with no injuries. The Houthis also said they carried out missile and drone strikes on the Yemeni port city of Mocha, near the Bab el-Mandeb strait, and declared a naval blockade against Saudi Arabia in the Red Sea .
Oil prices rose on Monday as traders assessed the uncertainty over the strait’s reopening. Brent crude climbed as markets reacted to Iran’s conditions and the ongoing standoff .
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