Os prices do oil fell to pre-war levels on Thursday, after the United States said flow through the Strait of Hormuz was approaching normality and its top diplomat ended a trip through the Gulf aimed at drumming up support for a preliminary deal with Iran.
US Energy Secretary Chris Wright said that shipments across the straits were approaching levels seen before the US and Israel launched attacks against Iran on February 28, with at least 20 million barrels leaving the strait in the last 24 hours.
During the conflict, Iran took effective control of this vital strategic point, disrupting the flow of oil and shaking global energy markets and the broader economy.
Despite the recovery in maritime traffic, Iran has signaled that it will continue to exercise control.
On Thursday (25), the Revolutionary Guard warned vessels to stay on the routes through the strait designated by Tehran, rejecting as unacceptable and dangerous the new navigation routes announced and not coordinated with Iran.
The warning came after Oman announced temporary sea routes through the strait in coordination with the United Nations shipping agency.
Data from the UN International Maritime Organization showed that 57 ships, carrying around 1,100 sailors, have transited the strait since June 23, as part of the evacuation plan .
US Secretary of State Marco Rubio sought to reassure Gulf allies who were wary of Washington’s preliminary agreement with Tehran.
After meeting with foreign ministers from Gulf Arab countries in Bahrain — headquarters of the U.S. Navy’s Fifth Fleet — he told reporters that the Gulf allies shared some serious concerns and that they wanted to be informed about every step of the peace agreement, which includes .
If Iran threatens or blocks ships in the strait, “then we will have a problem,” Rubio said, after previously telling ministers that “no country on Earth has the right to charge for the use of international waterways” and that navigation fees would never be part of any agreement.
Badr bin Hamad Al Busaid, Foreign Minister of Oman, a country across the strait from Iran, said at the meeting that future maritime transport agreements should not involve tolls .
Trump faces Republican criticism
The diplomatic initiative comes at a time when US President Donald Trump is facing growing criticism in his country over the war with Iran.
In a closed-door meeting with other Republicans on Wednesday, Trump clashed with Senator Bill Cassidy, shortly before his administration asked Congress for tens of billions of dollars to fund the conflict.
Several Republicans present said Trump got into a heated argument with Cassidy, who said the administration needed to explain what it signed last week, which provides financial incentives to Iran but falls short of the goals he set at the start of the war.
“It doesn’t appear, although I don’t know for sure, that things are going as we’ve been told,” Cassidy told reporters.
In a move seen as support for Trump, Senate Republican leaders scheduled a nighttime vote to block a resolution seeking to end hostilities with Iran. The Senate voted 50 to 47 to block the war powers measure, which had advanced procedurally in May.
“This vote serves as a warning to Iran,” Trump said on social media after Wednesday’s vote, although it did not affect the previous vote.
War with Iran weighs heavily on Trump’s Republicans.
The war is weighing heavily on Trump ahead of the November elections that will determine control of Congress. Only one in four Americans believes the war was worth it, according to a Reuters/Ipsos poll .
Contradictory reports emerged about elements of the framework agreement, which led to criticism of Trump both in the United States and abroad.
Iran’s chief negotiator, Mohammad Baqer Qalibaf, said on Thursday that the US claim that Iran would use its unfrozen assets to buy American agricultural products was false .
They also persist disagreements over financial incentives for Iran, nuclear inspections, and Israel’s parallel war in Lebanon.
The agreement establishes 60 days of negotiations to address thornier issues, such as Iran’s nuclear program.
Regional skepticism
The deal has provoked skepticism in the Middle East, where many countries were attacked by Iran during the war and see it as too generous for Tehran, including one background of US$300 billion and the relief of some sanctions.
Washington’s Gulf allies fear the reconstruction fund could help Iran rebuild its military. Rubio said he did not discuss the fund with Gulf ministers on Thursday. The deal also does not address Tehran’s ballistic missile capabilities.
Under the deal, Iran must allow free movement of ships through the Strait of Hormuz for 60 days, and Tehran has suggested it may impose tariffs after that period. Washington and its Gulf allies oppose these tariffs.
Conflict in Lebanon
On Thursday, high Israeli and Lebanese officials denied that there had been any Israeli withdrawal from occupied southern Lebanon after an American official claimed that Israel had withdrawn some of its troops in a gesture of good faith.
Israel has been at war with Hezbollah in Lebanon since the militant group attacked Israel on March 2 in support of Iran, and Tehran has made a cessation of hostilities central to its demands for any lasting peace deal with the United States.
