TOPSHOT – This image exhibits ships crusing close to the Strait of Hormuz off the japanese coast of the United Arab Emirates at Khor Fakkan on July 13, 2026.
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The U.S. army redirected 20 extra industrial vessels away from Iranian ports final week below its naval blockade, signaling no let-up in maritime strain as a deal to reopen the Strait of Hormuz stayed out of attain.
U.S. Central Command stated American forces had redirected 55 industrial vessels as of Sunday, up from 35 as of Aug. 2. American forces have additionally disabled 2 ships and boarded 2 to endure compliance, in keeping with the assertion on Sunday.
The escalating tally underscores how far the 2 sides stay from resolving a disaster that has choked the Strait of Hormuz for greater than 5 months. The Strait of Hormuz carried a few quarter of the world’s seaborne oil commerce and a fifth of world liquefied pure gasoline earlier than the struggle erupted in February.
Iranian International Minister Abbas Araghchi stated Sunday there was “no risk of restarting negotiations” so long as the U.S. continues violating the June memorandum of understanding, with out compensating for its “violations,” in keeping with Tasnim Information Company, a semi-official information outlet related to the Islamic Revolutionary Guard Corps.
“Intermediaries are nonetheless making efforts to search out methods to renew negotiations,” Araghchi stated.
U.S. President Donald Trump, who projected confidence that Washington and Tehran might quickly strike a deal final week, instructed Axios that he’s ready to attend for financial misery to mount in Iran, backing away from a renewed army offensive.
“We’re low keying it,” Trump stated, “We’re solely semi-negotiating with them. We’re simply watching Iran with its enormous inflation and the actual fact they haven’t any cash.”
The president additionally posted a chart on Reality Social exhibiting the plunging worth of the Iranian rial between 2025 and now, with the title “Iran has no cash” and “forex is trash” in textual content.
Iranian officers have set out sweeping calls for to their American counterparts for reopening the Strait of Hormuz, together with the U.S. lifting its naval blockade and sanctions, withdrawing American troops from the area, paying struggle reparations and releasing frozen Iranian belongings.
Iran has additionally been in dialogue with Oman to work out an settlement to outline transit routes by the strait. The negotiations have progressed effectively and reached their last stage, Araghchi stated, whereas insisting the deal wouldn’t reopen the waterway.
Oman confirmed that its talks with Tehran had been progressing in “a constructive and constructive ambiance,” whereas calling for a halt to repeated assaults on vessels transiting the strait, to create area for diplomacy.
Iranian strikes in Hormuz and Houthi assaults within the Pink Sea continued to maintain shippers away from each routes. The United Arab Emirates stated Saturday that Iran launched a missile on an oil tanker owned by the Abu Dhabi Nationwide Oil Firm whereas it was making an attempt to transit the strait early Saturday.
Yemen’s Iran-backed Houthi militia on Sunday claimed accountability for an assault on a oil refinery in Saudi Arabia and gear in Yemen’s Pink Sea port metropolis of al-Makha.
Hardening phrases
“There would not appear to be a lot of a compromise, which finally makes it harder to succeed in a sustainable deal,” Warren Patterson, head of commodities technique at ING Financial institution, stated in a observe final Friday.
The financial institution saved its forecast for Brent to common $80 a barrel this quarter, anticipating flows to normalize by the third quarter, whereas flagging substantial “threat and uncertainty” to that baseline view.
Regardless of progress in current days, the tone of the rhetoric and deepening mistrust between Washington and Tehran depart scope for renewed deterioration, Patterson stated. “Issues might go from unhealthy to worse as soon as once more.”
Delivery site visitors by the Strait of Hormuz has dwindled to only eight confirmed crossings final Friday, down 33% from the day earlier than, in keeping with transport tracker Kpler.
Oil costs took a leg greater on Monday, with worldwide benchmark Brent crude futures leaping almost 1% to $84.22 a barrel, and U.S. West Texas Intermediate futures gaining 0.6% to $78.63.
Iranian state media revealed a draft plan final week that might prohibit site visitors by Hormuz, barring U.S. and Israeli ships from the strait and require compensation from hostile international locations earlier than permitting transit. The plan is below assessment by Iran’s parliament, in keeping with the state outlet Fars.
Tehran would impose penalties on violators equal to twenty% of the worth of cargo aboard a ship, in keeping with the preliminary draft.
