Iran has yet to respond to Oman proposals aimed at ending Strait trade disruption from US-Israeli warVessels at the Strait of Hormuz, as seen from Musandam, Oman, July 28, 2026. Iran denies seeking to resume talks with the United States. Iran effectively shut the strait to ships other than its own after the United States and Israel attacked on February 28. Iran has said it ⁠wants to manage the strait alongside Oman, which controls the opposite shore, and charge service fees to ships that use it. The end of the US bombing campaign ​over the weekend sent oil prices tumbling by around 8% on Monday, and the fall continued on Tuesday.