Iran Claims Progress; Trump Skeptical
Iran has stated that talks with Oman regarding shipping lanes in the Strait of Hormuz are showing signs of progress. This announcement exerted downward pressure on oil prices, with Brent crude falling approximately 4.6% to around US$83 per barrel as the market anticipated a potential increase in the flow of energy shipments.
Iranian Foreign Minister Abbas Araghchi stated that discussions with Oman have reached their final stage. However, Tehran emphasized that the talks focused solely on temporary routes to ensure vessel safety, rather than direct negotiations with the United States.
This statement provoked an angry reaction from U.S. President Donald Trump. He accused Iran of dishonesty and insisted that talks aimed at finding a solution were indeed underway, despite Tehran’s denial of any negotiations with Washington.
The Strait of Hormuz remains not fully open. Only a limited number of vessels are passing through—typically via routes close to Iranian territory with Tehran's permission or along the southern side near Oman. The central channel currently under discussion reportedly still poses a risk of mines.
Trump had previously called off a major strike against Iran after Saudi Arabia, the United Arab Emirates, and Qatar requested more time for diplomacy. However, he reiterated that the U.S. remains ready to take action if Iran fails to promptly open the Strait of Hormuz and resolve issues surrounding its nuclear program.
Newsmaker Analysis: Progress in Iran-Oman talks could drive down oil prices as the risk of supply disruptions eases. However, Iran's denials and Trump's anger highlight the fragility of the diplomatic process. Should the talks fail, oil prices could surge again, gold might strengthen as a safe-haven asset, and the U.S. dollar could see increased defensive demand. (arl)
Source: Newsmaker.id
