Iran Signals Strait of Hormuz Reopening Within Seven Days; Oil Prices Drop

Iran has signaled readiness to reopen the Strait of Hormuz within seven days if the US takes initial steps to reduce military pressure, causing oil prices to drop sharply below $91 a barrel. The proposal, conveyed to Washington via mediators, aims to resume diplomatic talks and permanently end hostilities. A senior Iranian official stated progress is possible if the US shows sincerity, though a meeting between President Masoud Pezeshkian and Donald Trump was ruled out. Iran demands assurances of US commitment to talks, easing of naval blockades on its ports, and cessation of military actions related to the strait. This follows parliament speaker Mohammad Bagher Ghalibaf's recent insistence on combining military pressure with diplomacy until Iran's demands are met.