The US-Iran conflict remains tense as Tehran sets conditions for reopening the Strait of Hormuz, a vital global energy and shipping chokepoint. Iranian officials have linked any reopening to major US concessions, including an end to sanctions and the naval blockade, compensation for war damages and an end to military threats. Iran and Oman are also working on arrangements for a temporary shipping corridor through the strategic waterway. Meanwhile, oil prices have recently fallen despite the continuing confrontation, as markets respond to signs of improving crude flows and hopes of a possible diplomatic breakthrough. Brent crude was recently on track for a weekly decline.
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