Source: Al Jazeera [Qatari state media]
“Oil prices are climbing as Iran’s latest demands for reopening the Strait of Hormuz dampen hopes for a return to stability in global energy markets. Brent crude, the international benchmark, rose more than 1 percent on Monday as Tehran’s insistence that the critical waterway will not reopen without major concessions from the United States stoked market anxiety. … Iranian Foreign Minister Abbas Araghchi said on Sunday that while Iran and Oman were close to an agreement on Hormuz, the waterway would not reopen until Washington met certain conditions, including easing sanctions on Tehran and paying war reparations.” (08/10/26)