Summary
- Negotiations between the US and Iran remain deadlocked, and tensions in the Strait of Hormuz have not fully eased.
- Iran is still restricting much of the vessel traffic through the Strait of Hormuz, a vital shipping lane that carries about 20%% of global oil supply.
- Markets are watching whether US-Iran talks make progress and whether the Strait of Hormuz returns to normal, given the potential impact on global oil prices and global supply chains.
Forecast Trend Report by Period
Negotiations between the US and Iran remain deadlocked, though tensions around the Strait of Hormuz have eased somewhat.
Walter Bloomberg reported on May 9 that the US is awaiting Iran’s formal response to a proposal to end the war and begin peace talks.
The two sides have continued military clashes in recent days. Even so, conditions around the Strait of Hormuz were relatively stable that day.
A Qatari liquefied natural gas tanker headed toward the strait with Iran’s approval, according to people familiar with the matter. The move was interpreted as a confidence-building measure.
The conflict escalated in earnest after US and Israeli airstrikes on Iran in February.
Iran is still restricting much of the vessel traffic through the Strait of Hormuz, a vital shipping lane that carries about 20% of global oil supply.
The UK said it plans to deploy warships to the Middle East in preparation for a possible maritime protection mission. The US also announced new sanctions targeting Iran-linked entities in China and Hong Kong.
Iran accused the US of undermining diplomacy, while Washington said it was still awaiting Tehran’s response.
Markets are closely watching whether US-Iran talks make progress and whether traffic through the Strait of Hormuz returns to normal, given the potential impact on global oil prices and supply chains.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
