Iran Sets New Preconditions for Hormuz Reopening, Stalling Oman-Mediated Deal

Iran on August 10 demanded US compensation for violations and a permanent end to the maritime blockade before reopening the Strait of Hormuz, per IRNA and Reuters. The conditions stall an Omani-mediated deal that appeared close August 5. The strait, blocked since February 28, carries roughly a fifth of global oil liquids demand. Oil futures rose over $3 a barrel on August 7.