Iran's New Demands Delay Deal to Reopen Key Oil Shipping Route

Iran said August 10 it wants US compensation and a permanent end to the naval blockade before reopening the Strait of Hormuz, a narrow shipping lane carrying about a fifth of the world's oil. The demands stall a deal Oman was brokering that seemed close August 5. Oil prices rose over $3 a barrel August 7. The strait has been blocked since February 28, per IRNA and Reuters.