Abu Dhabi
\nAbu Dhabi\u2019s National Oil Company (ADNOC) said one of its vessels was targeted by a missile while transiting the Strait of Hormuz in the early hours of Saturday, as Iran\u2019s military stressed that the crucial waterway would only be reopened when the U.S. accepts Iran\u2019s conditions.
\n\u201cThe incident resulted in no injuries, and the situation has been brought under control,\u201d ADNOC said in a statement.
\nThe United Arab Emirates, of which Abu Dhabi is the capital, said in a post on X that it \u201ccondemns in the strongest terms the targeting of an ADNOC-affiliated tanker while it was passing through the Strait of Hormuz.\u201d
\nThe reported attack comes as U.S. Vice President JD Vance, in an interview with Fox News on Saturday, said Iran and its Gulf neighbors, particularly Oman, have been discussing how to ensure the safe flow of traffic through the strait. Plans include a traffic scheme, demining the waterway, and a commitment from Iran not to fire on commercial vessels, he said.
\n\u201cWe don\u2019t trust. We verify,\u201d Vance said, adding that the U.S. would judge Iran by its actions rather than its words.
\nTehran\u2019s ability to effectively close the strait \u2014 an open, untolled international waterway before the U.S.-Iran war started on Feb. 28 \u2014 has triggered a global energy supply shock that has driven up gas prices, exacerbated inflation and raised alarms about oil reserves.
\nOil prices rose Friday as investors waited for an agreement teased by the Trump administration earlier this week to open the strait to freedom of navigation.
\n\u201cThe reopening of the Strait of Hormuz is subject to the specific mechanism and conditions of the Islamic Republic of Iran and has nothing to do with the negotiations between Iran and Oman,\u201d Sardar Mohbi, a spokesman for Iran\u2019s Islamic Revolutionary Guard Corps, said in a statement on Telegram translated by Google.
\nTreasury Secretary Scott Bessent told CNBC on Tuesday that an agreement to open Hormuz with freedom of movement could come as soon as Wednesday. President Donald Trump and Secretary of State Marco Rubio had also indicated that an agreement was imminent.
\nBut a deal still has not been announced yet. Meanwhile, ship traffic through Hormuz was down 33% on Friday compared to the day prior, with most vessels using the Iranian route, according to the trade intelligence firm Kpler.
\nIran and Oman are working on an agreement to define transit routes through the strait, according to media reports. Inbound traffic would transit Iranian waters while outbound traffic would go through Omani waters.
\nBut Iranian state media published a draft plan Thursday that would restrict traffic through Hormuz. The plan is under review by Iran\u2019s parliament, according to the state outlet Fars.
\nUnder the draft plan, Iran would ban U.S. and Israeli ships from transiting the Strait. Other nations that have harmed Iran would not be allowed to transit until compensation is paid, according to the draft.
\nBrent crude futures, the international benchmark, gained more than 1% to close at $83.55 a barrel. U.S. West Texas Intermediate advanced about 1% to settle at $78.18 per barrel. Prices fell more than 7% for the week.
\nA brief hiatus in fighting between the U.S. and Iran after a June 17 memorandum of understanding was followed by weeks of attacks and counterstrikes between the U.S. and Iran, with Tehran targeting several of its Gulf neighbors with missiles and drones.
\nOn Thursday, Iran\u2019s chief negotiator accused Trump of staging \u201ctheater diplomacy,\u201d as Washington and Tehran offered conflicting accounts of bilateral engagement aimed at ending their monthslong hostilities.
\n\u2033\u2018Massive attack coming \u2026 wait, never mind, they want to negotiate.\u2019 That\u2019s theater diplomacy on loop,\u201d Mohammad Bagher Ghalibaf, Iran\u2019s parliament speaker and top negotiator, wrote in a post on X on Thursday in an apparent gibe at Trump.
\nThe remarks came days after Trump called off planned strikes and said the outlines of a deal had already been settled with Tehran. Iranian officials have rejected the claim, saying no talks were underway.
\nThe conflict is meanwhile broadening across the region, with Gulf energy infrastructure and key shipping choke points under renewed threat.<\/p>\n","protected":false},"excerpt":{"rendered":"
Abu Dhabi Abu Dhabi\u2019s National Oil Company (ADNOC) said one of its vessels was targeted by a missile while transiting the Strait of Hormuz in the early hours of Saturday, as Iran\u2019s military stressed that the crucial waterway would only be reopened when the U.S. accepts Iran\u2019s conditions. \u201cThe incident resulted in no injuries, and […]<\/p>\n","protected":false},"author":2,"featured_media":560962,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-560946","post","type-post","status-publish","format-standard","has-post-thumbnail","category-world"],"yoast_head":"\n