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Missile reports cloud Strait of Hormuz talks as oil prices steady higher
Iranian officials said Oman-mediated talks on managing the strait are making progress, even as unconfirmed reports claim anti-ship missiles struck a tanker off Oman's coast.
FXStreet reports that Oman-mediated negotiations on managing the Strait of Hormuz are progressing, but Tehran says commercial shipping will not fully resume unless the United States agrees to broader concessions, including an immediate end to military action and comprehensive sanctions relief, plus financial compensation.
The outlet says unverified social media claims circulated Sunday evening alleging Iran launched multiple anti-ship cruise missiles from Sirik in southern Iran, striking an oil tanker off Oman's coast, with secondary reports also referencing additional targets and a downed US MQ-9 drone. FXStreet notes none of the claims have been confirmed by international maritime monitors, US Central Command, or major news outlets, leaving the tanker’s status and any casualties unknown, as Gulf News reported.
Against this backdrop, FXStreet links the Strait reopening to ongoing regional tensions, saying Iran has imposed tough new conditions and has reportedly targeted a UAE merchant vessel with a missile. The outlet also points to renewed pressure across the region, including a report that Tehran-backed Houthi forces hit a Saudi oil refinery.
FXStreet adds that WTI oil was rising after nearly 1.5% losses in the previous session, hovering around $79.4 per barrel as the diplomatic and security situation around the strait remains in flux.
Latest closeWTI crude $78.07 ▲3.8%