Iranian Foreign Minister says they are holding consultations to draft regulations concerning arrangements for the Strait of Hormuz in accordance with international law.
The Iranian Foreign Minister's statement about drafting regulations for the Strait of Hormuz suggests a potential shift in their approach to maritime security, which could impact global oil transportation.
US President Trump says when the fake news says that the Iranian enemy is doing well, militarily, against us, it’s virtual treason in that it is such a false, and even preposterous, statement
US NEC Director Hassett says this is a temporary energy shock, Fox Business reports; Trump is confident the Strait of Hormuz will be open soon; on SPR, we're releasing as fast as possible
Iranian Foreign Minister says they are holding consultations to draft regulations concerning arrangements for the Strait of Hormuz in accordance with international law.
Earthquake reported in Tehran, according to Tasnim; 3.4 magnitude, according to ISNA
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If these regulations facilitate safer passage in a historically tense area, it may reduce risk premiums on oil prices. However, how this plays out will depend on Iran's commitment to international norms and potential responses from other regional players.
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