Trump Ditches Imminent Deal, Leaving Hormuz Oil Flows in Limbo
The US President Donald Trump has made a significant shift in his approach to negotiations with Iran, adopting a 'low-key' attitude and signaling that he's prepared to let economic pressure build rather than launch fresh military strikes.
This pivot risks leaving oil flows through the Strait of Hormuz in limbo, as millions of barrels continue to move out of the Persian Gulf via the critical chokepoint, mostly thanks to a network of shuttle tankers trying to sneak through undetected.
The weekend brought fresh evidence of how vulnerable the region's shipping and energy infrastructure remain amid the unresolved conflict. The United Arab Emirates reported that one of its vessels was targeted by a missile after three were hit last week.
Trump believes time is on his side, and can let the economic pain of America's naval blockade on Iran pressure the country into agreeing to a deal. With crude prices below the highs struck at the outset of the conflict, Washington has some breathing space.