Iran says Hormuz to remain closed until US meets conditions

Image: The Guardian
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- Alternative ways being used to move fuel out of Gulf region, but flows of refined products such as diesel still constrained Exports of crude from the strait of Hormuz have largely returned to levels seen before the outbreak of the Iran war, as oil producers and the shipping industry have found…
- Iran has been launching drones and missiles at commercial ships in the waterway each week, though it has often failed to strike its targets, according to a Western security official.
Coverage
- Any work to ease current shortages and price hikes while the Strait of Hormuz remains closed will take years and billions of dollars.
- Crude flows through Hormuz have recovered, but tanker insurance costs and geopolitical risks remain barriers to a return to normality.
- Tehran says reopening Strait of Hormuz has been its main goal, while the US continues to focus on nuclear talks.