Overview
- Iran and Oman say they have agreed draft coordinates and that a temporary shipping lane is in the 'final stages' of negotiation.
- Mohammad Bagher Zolghadr, Iran’s top national security official, published a list of demands that includes lifting the U.S. naval blockade and sanctions, withdrawing U.S. forces, releasing frozen assets and paying reparations.
- U.S. officials say Washington would lift its blockade once commercial shipping is restored and Iran meets performance-based commitments tied to any deal.
- Attacks on shipping continue, with the UAE and ADNOC reporting a missile strike on an ADNOC-linked vessel, and daily transits remain far below pre-war levels according to maritime data.
- The standoff is reshaping regional security and energy markets as Gulf states sign new defence pacts, insurers raise costs and traders reroute cargoes, all of which could keep oil prices and costs for customers elevated.