The latest
Regional mediators are working to secure a new ceasefire between the United States and Iran, amid concern that the conflict could become a prolonged confrontation that damages regional economies and raises the risk of miscalculation.
The efforts follow a ninth consecutive night of US strikes, Iranian retaliation against Arab US allies, and an attack on a tanker near Oman. Iran-backed Houthi forces have also announced a blockade of Saudi shipping, according to the report.
Details
- Qatar’s proposal: Qatar has proposed a 10-day ceasefire that would end shipping restrictions in the Strait of Hormuz, though it remains unclear whether Washington or Tehran is ready to accept it.
- Strait dispute: Iran insists it should have a role in managing the reopening of the strait, while the US supports a shipping route along Oman’s coast outside Iranian oversight.
- Shipping disruption: Vessel traffic remains heavily affected, with an average of 10 ships a day crossing the strait between Friday and Sunday, according to shipping-tracking data.
- Oil flows: Average crude flows through the strait fell to 1.5mn barrels a day last week, compared with about 10mn barrels a day in early July and 15mn before the war, according to a maritime-data provider.
- Military moves: The US is reinforcing its regional capabilities with fighter aircraft, while an Iranian official said the movement of US military equipment did not signal a serious intention to end the war.
What to watch
Both sides’ position on a temporary ceasefire and on shipping arrangements in the Strait of Hormuz will be decisive for mediation efforts. It remains unclear whether Tehran will respond to ceasefire proposals presented in recent days.
