Iran Keeps Hormuz Closed; Geopolitical Risks Escalate Again
Iran has insisted that the Strait of Hormuz will remain closed until the United States meets specific conditions outlined in an interim agreement signed in June. This statement, delivered by Iran's chief negotiator Mohammad Baqer Qalibaf, has further dampened hopes for the imminent reopening of this strategic energy corridor.
Iran is demanding that Washington lift blockades on Iranian ports, remove oil sanctions, unfreeze Tehran's assets, and halt military threats and operations across various fronts. Tehran maintains that meeting these conditions is a prerequisite for shipping activities through Hormuz to return to normal.
The memorandum of understanding agreed upon in mid-June was intended to pave the way for a permanent deal between the US and Iran. However, the agreement quickly faltered due to disputes over control of the Strait of Hormuz—a waterway that, prior to the conflict, handled approximately one-fifth of the world's oil and LNG flows.
President Donald Trump had previously declared the agreement dead, while Iran's Foreign Ministry later described it as suspended. This occurred despite both parties having been granted time to negotiate a final deal that would also address Iran's nuclear program.
Tensions have heightened further after a senior Iranian official stated that Tehran would shift to a more offensive military posture, given the lack of progress in diplomatic efforts to permanently resolve the conflict. This situation keeps the risk of energy supply disruptions from the Middle East elevated.
Newsmaker Analysis: Iran's stance indicates that the reopening of Hormuz remains far from certain. Should the US refuse to meet Tehran's demands and the conflict escalate, oil prices could maintain bullish momentum driven by supply risk premiums, while gold might regain support as a safe-haven asset. Conversely, an agreement to reopen the shipping lane could put downward pressure on oil prices and reduce some of the defensive demand for gold. (arl)
Source: Newsmaker.id
