Ship Strike Near Hormuz Clouds US-Iran Talks as Oil Rebounds Nearly 3%
Updated
Updated · Detroit News · Aug 4
Ship Strike Near Hormuz Clouds US-Iran Talks as Oil Rebounds Nearly 3%
3 articles · Updated · Detroit News · Aug 4
Summary
An unidentified projectile struck a dry bulk vessel near the Strait of Hormuz, forcing the crew to abandon ship and leaving one seafarer missing.
Oil prices rebounded nearly 3% after Monday’s 7% slide as investors pulled back from optimism that U.S.-Iran diplomacy was gaining traction.
Trump said talks with Tehran were under way and called it Iran’s “last chance,” but Iranian officials said no negotiations with Washington were taking place and only contacts with Oman continued.
Traffic through Hormuz stayed severely disrupted: just six vessels transited Monday, down from seven a day earlier and far below the 100-plus ships typical in peacetime.
The clash keeps pressure on a waterway that carries about one-fifth of global oil and LNG shipments, with mediators including Pakistan still trying to restart formal U.S.-Iran talks.