International oil prices plunge, Iran says Strait of Hormuz negotiations enter their final stage.

The Iranian Foreign Ministry announced that negotiations between Iran and Oman on shipping security in the Strait of Hormuz are still ongoing and have entered their "final stage." Driven by expectations of easing Middle East tensions, international oil prices fell on Monday: WTI crude dropped by more than 7% at one point, while Brent crude fell over 5% to around $83 per barrel. Iranian Foreign Ministry spokesperson Baghaei noted that the current talks are not direct negotiations with the U.S., but rather between Iran and Oman to ensure safe passage for vessels through the Strait of Hormuz, with the aim of finalizing a temporary shipping route as soon as possible. However, Iran emphasized that developments in the Strait of Hormuz are tied to U.S. military actions, and as long as such operations continue, there will be no major change to the Strait’s status. Previous reports indicated Iran and Oman are discussing reopening a "middle shipping lane," though the lane may have been mined, meaning mine-clearing operations will still be required to restore normal shipping. The Strait of Hormuz remains effectively closed at present, with only a small number of authorized vessels traveling along designated routes. U.S. President Donald Trump previously stated that an agreement to open the Strait of Hormuz could be imminent, adding that he had called off planned military strikes due to diplomatic efforts by Gulf countries. At the same time, he stressed that the U.S. is maintaining military pressure, and any deal must include the "full opening of the Strait of Hormuz" and a resolution to Iran’s nuclear issue. Gulf nations including Saudi Arabia, the United Arab Emirates (UAE), and Qatar have repeatedly called for de-escalation through diplomacy, warning that an escalation of conflict could lead to more attacks and disrupt regional energy and economic stability. Military threats between Iran and the U.S. have not been fully eliminated.