Brian Sullivan notes that Gulf nations are unlikely to agree to a toll plan for safe passage through the Strait of Hormuz. The state of oil transportation remains concerning as Iran controls a significant portion of the flow, while the U.S. claims that some oil is successfully exiting the strait.
Iran and Oman claim to be close to an agreement to establish a joint shipping corridor, but they lack the legal basis for such an agreement. Additionally, other Gulf nations are reluctant to pay any fees for safe passage.
Pakistan states it has made "significant progress" in peace talks with Iran, which has eased oil markets somewhat.
The U.S. continues to exert economic pressure on Iran, planning new sanctions.
