The Strait of Hormuz will be reopened "one way or the other," U.S. Secretary of State Marco Rubio warned Tuesday amid over ongoing negotiations.

A senior Iranian lawmaker described a potential agreement involving the Strait of Hormuz as contrary to Iran’s national interests. Mahmoud Nabavian, a conservative lawmaker and a member of Iran’s negotiating team with the U.

An agreement to reopen the waterway would be followed by a complicated process of navigating a backlog of vessels stranded for nearly three months.

Iran commits to clearing mines from the Strait of Hormuz within 30 days of a US peace deal. Bitcoin surged 3% and crypto markets added $75B on the news.

Tensions are escalating again near the Strait of Hormuz after a ship anchored off the United Arab Emirates was seized and taken toward Iran and another was attacked and sank near the coast of Oman.

Without the details of a formal agreement, it is unclear how soon normal shipping will resume and when oil prices will start to come down.

Quad allies launch energy security initiative amid global fallout from Strait of Hormuz crisis - China criticises grouping’s first joint infrastructure plan to develop port in Fiji as representing ‘bl