Iran’s Deputy Foreign Minister Kazem Gharibabadi said Tehran would continue with plans to oversee traffic through the Strait of Hormuz “if for any reason Oman is not interested in doing so” jointly, highlighting differences over the future management of the vital waterway.
Washington said talks are due to begin Tuesday in Doha, while Iran’s foreign ministry said on Telegram that it would send a delegation of experts but ruled out direct negotiations. The current interim agreement said Iran wouldn’t charge tolls for 60 days but left open the possibility of ships being forced to pay some sort of fee after that — a move opposed by the US, Europe and Gulf Arab nations.Traffic in the chokepoint slowed over the weekend after a flare-up in the conflict that saw two ships hit. However, there were indications tanker companies and their crews are willing to navigate Hormuz — a critical step to returning the global oil market to normal and unlocking millions of barrels of supply.
Oil is near where it was before the war began on optimism that supply through Hormuz will resume to nearer pre-war levels. The chokepoint carried about a fifth of global crude and liquefied natural gas before the conflict.
Morgan Stanley cut its Dated Brent price forecasts, saying the faster-than-expected reopening of the strait, resilient US exports and weak Chinese demand should leave the physical oil market well supplied.
With inputs from Bloomberg
First Published: Jun 30, 2026 6:42 AM IS
