Oil prices initially eased on hopes of a deal that would allow shipping to resume but later inched upward. AdvertisementThe US and Iran reached a deal to open the strait in June, only for attacks to resume. Attacks on shipping continueEven as hopes increased that a deal on the Strait of Hormuz could be imminent, attacks on shipping in the region continued. In July, the Houthis announced they were closing the Bab el-Mandeb Strait that leads to the Red Sea for Saudi-linked shipping. AdvertisementRubio has previously ruled out any deal that would give Iran control over the strait, saying last month that would create a “very dangerous precedent.”