Iran Says US Deal Not Imminent The Opening Trade 5/25/2026 Iran's Foreign Ministry spokesman has stated that consensus on opening the Strait of Hormuz is still elusive, casting a chill over oil markets and sparking renewed concerns about global trade routes.
This strategic chokepoint is crucial, as more than 20% of global oil shipments pass through it.
The US and Iranian governments have been engaged in delicate negotiations to unblock the strait, but their optimism appears misplaced.