US-Iran tension over the Strait of Hormuz eases; a fresh round of talks is set for Saturday in Oman

After the most intense round of US strikes on Iran and Tehran's responses, tension over the Strait of Hormuz began to ease by the evening of Thursday, July 16, and unlike earlier in the week when talks were described as deadlocked, a fresh round of negotiations is now set for Saturday, July 18, in Oman. According to international media, the US side will include Vice President JD Vance, Secretary of State Marco Rubio, special envoy Steve Witkoff and Jared Kushner, while Iran will be represented by Foreign Minister Abbas Araghchi.

Washington wants Iran to declare publicly, before any talks on its nuclear program, that the Strait of Hormuz is open and that commercial vessels will not be attacked. Oman had earlier proposed managing traffic through the strait via two separate corridors and without imposing tolls.

The secretary of Iran's Supreme National Security Council stressed on Friday, July 17, that Iran would respond to any attack on its infrastructure, including by striking Israel. Shipping through the Strait of Hormuz has fallen to its lowest since June 28, and the currency, gold and oil markets are awaiting the outcome of the Oman talks.