Iran is pressing the United States for concessions before it will agree to reopen the Strait of Hormuz, according to CNN. The demand comes as Tehran nears a potential deal brokered by Oman, though Iranian officials have cautioned that any agreement would not automatically restore shipping through the strategic waterway.
CNN reports that Iran is seeking changes in US behavior as a precondition. The Islamic Revolutionary Guard Corps (IRGC) has stated that the strait will only open after Washington "fully" accepts Iran's conditions, per Al Jazeera. This stance was echoed by the Financial Times, which noted Tehran insists the US must "rectify its behaviour" first.
Oman, which is mediating the talks, described the discussions as positive, according to the BBC. However, the BBC also highlighted Iran's warning that a deal would not necessarily mean the strait reopens. The mixed signals underscore the fragility of the negotiations, which involve one of the world's most critical oil transit routes.
The uncertainty has already moved markets. The Globe and Mail reported that oil prices gained on Friday, driven by a strong US jobs report and worries that peace talks may not succeed. Any prolonged closure of the Strait of Hormuz could disrupt global energy supplies, as a significant share of the world's crude oil passes through the waterway.
The talks, reportedly taking place with Omani mediation, appear to be at a delicate stage. Iran's insistence on US concessions suggests that a final agreement remains contingent on broader political and diplomatic shifts.
What to watch next: Whether Washington signals any willingness to meet Iran's conditions, and how oil markets react to further developments in the Oman-brokered talks.
