Iran Rejects Compromise on Strait of Hormuz

Iran has rejected Oman's proposal for joint regional administration of the Strait of Hormuz, dealing a setback to efforts to ease tensions in the Persian Gulf.

A senior Iranian official told Reuters that the proposed arrangement did not serve Iran's interests and that Tehran continues to insist on sole control over the strategic waterway.

Meanwhile, Iran's Islamic Revolutionary Guard Corps (IRGC) said it had stopped three oil tankers in the strait after they allegedly ignored safety warnings.

The diplomatic setback comes as renewed military tensions have pushed oil prices higher. Brent crude rose by more than $3 a barrel after the latest escalation.

The United States and Saudi Arabia carried out strikes against Iran-backed militias in Iraq following drone attacks on Saudi oil facilities.

Iran subsequently launched ballistic missiles toward US military positions in Jordan. According to local authorities, the missiles were intercepted before reaching their targets.

The latest exchange of attacks has ended a brief lull in the fighting and renewed concerns over shipping through one of the world's most important energy transit routes.

(Reuters, Max)