Oil prices are climbing again as the US and Iran have agreed to resume peace talks in Doha, but the underlying threat to one of the world’s most critical shipping chokepoints hasn’t gone away.
The Strait of Hormuz, which handles roughly 20% of the world’s oil supply, has been at the center of renewed tensions following exchanges of fire between the two nations. President Donald Trump announced the resumption of talks on June 29, with negotiations set for June 30 in Doha, Qatar.
What’s on the table in Doha
A memorandum of understanding signed on June 17 laid the groundwork, establishing a 60-day timeline for discussions covering Iran’s nuclear program, sanctions relief, and broader regional hostilities.
The fact that talks are happening after tanker attacks and military gestures in the Strait tells you everything about the stakes involved.
