US, Iran in Talks Over Reopening Strait of Hormuz, US Official Says

The striking detail is the volume of oil still moving under US escort despite the standoff, which suggests the strait's closure is less absolute than headlines imply. Iran's seven-day proposal and Washington's stated lack of urgency point to a negotiation where both sides have leverage but only one feels time pressure. What matters for energy and shipping markets is whether that escorted flow is treated as a durable workaround or a temporary patch; the open question is whether talks produce a formal reopening or simply normalize the escort arrangement.