The Gulf begins to realize: Iran may be left with its hand on the trigger

Gulf states fear that Iranian control of the Strait of Hormuz could become permanent, after oil exports fell to about 2.2 million barrels per day. Negotiations are stalled, with Iran demanding economic relief and a ban on American and Israeli warships. Oil prices have surged, with Brent trading around $87. The UAE reported four ships damaged, and Saudi Arabia suffered Houthi attacks.

The Persian Gulf states are reaching a grim conclusion: Iranian control of the Strait of Hormuz could become a permanent state of affairs, disrupting oil and gas exports and global energy supplies. According to a Wall Street Journal report, the war has created a more aggressive Iran, leaving the region without viable options. Iran's rivals are not enthusiastic about the proposed agreement, as it legitimizes Iranian oversight of ships, but they see it as the lesser evil compared to military escalation with the US. Negotiations have hit a deadlock: Iran demands economic relief and a ban on American and Israeli warships, while the US refuses. Oil prices have surged, with Brent trading around $87 per barrel. Traffic in the strait is disrupted: the UAE reported four ships damaged, Saudi Arabia suffered Houthi attacks on an alternative route, and Egypt was hit by a drone attack at the Damietta port. Oil exports through Hormuz have fallen to about 2.2 million barrels per day, compared to 8.5 million a month ago. The Gulf is examining emergency plans to bypass the strait.