Iran has struck two more tankers in the Strait of Hormuz, according to the UK Maritime Trade Operations Center.
What happened
Despite the ongoing attacks, markets are expressing optimism about reported US-Iran negotiations to end the war. The negotiations, mediated by Qatar, have been ongoing in Doha and have reportedly made positive progress. Iranian officials have made comments suggesting that diplomatic progress is being made.
The attacks on the tankers have not deterred the negotiations, and oil prices have actually fallen due to the hopeful talks. Brent crude opened the week at $111.69, down from Friday's close of $113.40, and has continued to fall. Consumer fuel prices have also eased slightly, with national averages per gallon of $4.17 for regular gas and $6.29 for diesel.
The Islamic Republic has reiterated that its conditions for reopening the waterway have not changed, despite the ongoing negotiations. The US-Iran talks aim to find a resolution to the conflict and reopen the Hormuz, which is a critical waterway for global oil trade.
