Oil holds declines as Iran and Oman reach agreement over Hormuz
Brent for October settlement declined 0.3% to $79.22 a barrel at 6:05 a.m. in London.
The Strait of Hormuz, a crucial waterway for global oil and natural gas supplies, remains closed by Iran, pending the United States' correction of its behavior. Iran's Supreme National Security Council demanded that the U.S. cease threatening Iran, end the war with Iran and its region allies, lift the naval blockade of Iranian ports, and withdraw its military from the region. Iran also wants Iran's war damage to be compensated, sanctions lifted, and frozen assets unfrozen. There has been no immediate response from the U.S.
Meanwhile, the UAE reported that one of its ships was targeted by an Iranian missile. Yemen's military also attacked the Iranian-backed Houthi rebels. Turkey's parliament approved a Kurdish peace bill, setting the stage for discussions on disarming and rehabilitating the Kurdistan Workers' Party.
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Also reported by 3 other outlets
- Agreement hits snag: Iran seeks to block passage of US and Israeli ships thecorner.eu
- Iran debates Hormuz wording moneyweb.co.za
- Iran says Hormuz shut until US ‘corrects’ its conduct economictimes.indiatimes.com
