Strait of Hormuz May Not Return to Normal, Whether It’s Open or Closed
The energy industry is planning for a future where the choke point on Iran’s southern coast is a lot less important.
The energy industry is planning for a future where the choke point on Iran’s southern coast is a lot less important.
The seizure was the latest U.S. effort to squeeze Iran’s oil-reliant economy, and came days after the Navy boarded an Iranian cargo ship near the Strait of Hormuz.
Publicly, Iranian officials refuse to confirm a second round of negotiations with the United States, even as they privately say they are making plans to attend.
Analysts said energy and shipping companies would be reluctant to fully restore operations until they were confident that hostilities were over.
On a day when both Iran and the United States declared the Strait of Hormuz opened, hopes for an agreement rose. But statements from President Trump and Iranian leaders about negotiations were sometimes at odds.
But analysts said it was not clear how quickly the oil industry in the Persian Gulf would be able to get back to normal.
Lebanese people who had been displaced by fighting expressed a mix of excitement and uncertainty about a pause in Israel’s campaign against Hezbollah.
Residents are wary that the truce may offer only a temporary reprieve after weeks of rocket fire by Hezbollah.
The pause in fighting would remove a major hindrance to the U.S.-Iran peace talks, if it holds. New talks are set for Thursday in Washington.
The country’s leadership secured a truce through risky talks with Israel, but the government now finds itself caught between competing pressures.