Iran has proposed opening the Strait of Hormuz if nuclear talks are delayed, signaling a potential shift in strategy amidst the ongoing war. This comes 60 days into the conflict and the U.S. has not immediately accepted the proposal. President Trump is reviewing the offer while prioritizing preventing Iran's nuclear capabilities development.
Oil prices surged following the UAE's exit from OPEC and the ongoing Iran ceasefire impasse. The risk premium associated with the Middle East conflict and the Strait of Hormuz blockade heightened investor concerns, leading to a market reaction. US President Trump acknowledged the Iranian offer as 'much better' but reiterated the conditions for a permanent settlement.