Iran's foreign minister Abbas Araqchi said Tehran's offer to reopen the Strait of Hormuz within seven days remains on the table while it reviews Washington's response. He said that if the US accepts Iran's conditions, including lifting the blockade on its ports, lifting sanctions on oil exports and ending hostilities on all regional fronts, the strait could reopen within six days. Washington insists that Iran's nuclear program be addressed from the outset, and Vice President JD Vance has demanded a 'meaningful' cut in Iran's uranium enrichment capacity to end the eight-month war. Iran's Revolutionary Guards navy said two oil tankers caught fire after hitting mines while crossing the strait, a claim IRNA reported without independent confirmation. A container ship and a dry bulk carrier also sank near the strait after being hit by projectiles in separate incidents, and attacks in the area have surged over the past two weeks.
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Original headline: Iran plan to open shipping lane still on the table
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- Iran plan to open shipping lane still on the table
Iranian Foreign Minister Abbas Araqchi says Iran's seven-day proposal to reopen the Strait of Hormuz remains on the table, although Washington has not addressed all seven conditions, including lifting the US blockade of Iranian ports and sanctions on oil exports. He said that if the US accepted, the strait could reopen within six days, with talks resuming the next day. The main sticking point is Washington's demand that Iran's nuclear programme be addressed from the outset, with Vice President JD Vance calling for a “meaningful” cut in uranium enrichment capacity. Iran's Revolutionary Guards claimed two oil tankers caught fire after hitting naval mines, though this has not been independently confirmed. Maritime officials also reported that a container ship and a dry bulk carrier sank near the strait after being hit by projectiles, and attacks in the area have surged, pushing up global energy prices and inflation.
- Iran plan to open shipping lane still on the table
Foreign Minister Abbas Araqchi says Iran's seven-day proposal to reopen the Strait of Hormuz is still on the table, while Iran's security chief said talks had stalled over Washington's failure to address all seven conditions. Tehran's conditions include lifting the US blockade of its ports and sanctions on its oil exports, and ending hostilities on all regional fronts; if accepted, the strait could reopen within six days. Washington insists on addressing Iran's nuclear program from the outset, with Vice President JD Vance demanding a "meaningful" cut in uranium enrichment. Iran's Revolutionary Guards say two oil tankers caught fire after hitting naval mines, a claim IRNA reported without independent confirmation, and a container ship and a dry bulk carrier sank after being hit by projectiles. Attacks around the strait have surged over the past two weeks, adding to disruptions that have boosted global energy prices and inflation.
- Iran plan to open shipping lane still on the table
Iran's Foreign Minister Abbas Araqchi says Tehran's proposal to reopen the Strait of Hormuz within 7 days, made in mid-September after an interim ceasefire collapsed, is still on the table. If Washington accepts Iran's conditions, including lifting the US blockade of its ports and sanctions on oil exports and ending hostilities on all regional fronts, the strait could reopen within 6 days, with talks resuming the next day. The main dispute is Washington's demand that Iran's nuclear program be addressed from the outset, with Vice President JD Vance calling for a “meaningful” cut to Iran's uranium enrichment capacity. Meanwhile, Iran's Revolutionary Guards navy says two oil tankers caught fire after hitting naval mines in the strait, a claim IRNA reported without independent confirmation, as attacks around the waterway have surged over the past two weeks.
- Number of Vessels Attacked in the Strait of Hormuz Hits Record High
According to data from the Tổ chức Hàng hải Quốc tế obtained by TASS, 22 vessels reported being attacked in the Strait of Hormuz from October 1 to 13. The estimated count surpassed the total for all of March 2026, the previous record. The attacks left 15 sailors injured, 2 missing, and 1 ship sunk. October 11 saw the most incidents, with 6 vessels reporting damage, while on October 4 and 13, three vessels each reported damage. The backdrop: the US and Israel launched a war against Iran on February 28, 2026. In June 2026, the two sides signed a memorandum for an immediate ceasefire, but on the night of July 8, the Pentagon resumed large-scale strikes on Iran, accusing it of violating agreements related to the Strait of Hormuz.
- Expert: World oil prices set for unprecedented surge
Brent crude is trading near $110 a barrel and U.S. crude near $100, up about 80% and more than 70% respectively since the start of the year. William Blair analyst Neal Dingmann warns of a possible “super spike,” as tanker attacks linked to Iran and record shipping costs tighten physical supply. The U.S. Strategic Petroleum Reserve is at its lowest since 1982, limiting the effect of releases, while heating oil futures have more than doubled this year. Goldman Sachs raised its December Brent forecast to $90 a barrel but sees a possible $125 if oil infrastructure is destroyed or geopolitical risk premiums stay high. Meanwhile, many U.S. producers posted record free cash flow in the second quarter.
- Iran says it has a 'new operational plan' if the U.S. resumes attacks, as shipping vessels report strikes
Senior Iranian security official Mohsen Rezaei warned that Tehran has prepared a new response plan, “far more devastating” than the 12-day and 40-day wars, for any renewed U.S.-Israeli attack. President Trump told Newsmax he does not intend to use nuclear weapons against Iran or deploy ground troops. Several commercial vessels around the Arabian Peninsula were attacked, including a tug hit by two unknown projectiles near the UAE on Sunday and a tanker struck by an RPG on Friday. Oil prices surged, with Brent settling at $109.86 per barrel (up 3.7%) and WTI rising 3.5% to $101.41. Saudi Arabia intercepted several missiles, including one aimed at the Yanbu oil export terminal, and Aramco's administrative building in Dhahran was hit earlier this week.
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