Friday, 7 August 2026, 5:16
Iran and Oman are closing in on an agreement to reopen the Strait of Hormuz, a critical waterway for global energy supplies. The potential breakthrough comes as the U.S.-Israel war on Iran grinds on and as ceasefire tensions flare in southern Lebanon.
Al Jazeera reported that Iran and Oman have agreed on new coordinates for ships to pass through the strait. The move could ease pressure on a waterway that carried about 20% of the world's oil and natural gas before the war.
President Donald Trump has said a deal could come as early as Wednesday, though negotiations are still in flux. The U.S. recently reimposed a blockade on Iranian ports, and attacks on shipping have brought traffic through the strait to a near halt.
Israel's military told residents of Mansouri to move at least 1,000 meters north of the village, citing what it called "a blatant violation of the ceasefire" by Hezbollah. Shortly after, the military said it was conducting "precise strikes" in southern Lebanon.
Lebanon's health ministry said one person was killed and 12 wounded in an Israeli strike in the town of Tebnine. The escalation came as Lebanese and Israeli negotiators met in Rome for a second day to discuss an agreement under which Israeli forces would withdraw from occupied areas in exchange for Hezbollah's disarmament.
California depends on global fuel markets, and any prolonged closure of the Strait of Hormuz would put upward pressure on gasoline prices, diesel and shipping costs across the West Coast. The state also relies on imported oil and refined products, making it vulnerable to price shocks from the Middle East.
A stable strait would help keep fuel costs in check for California consumers and businesses. The deal is not final yet, and the next few days will be critical for markets.
The U.S. and Israel launched the war on Feb. 28, citing goals that included toppling Tehran's government and ending its nuclear program. Hezbollah entered the conflict two days later by firing at Israel. A shaky ceasefire between Israel and Hezbollah has largely held since June 20, but recent strikes have tested that arrangement.
The Strait of Hormuz deal could reshape the global energy landscape and reduce pressure on California drivers, but it has not been formally announced. With negotiations continuing in Rome and military operations still underway, the region faces a pivotal moment.
