Diplomatic push once again raises hopes of Strait of Hormuz deal
- Iran has proposed a seven-day framework to reopen the Strait of Hormuz and restart negotiations with the US
- Around 80 countries have backed calls for the immediate reopening of Hormuz and the protection of freedom of navigation
- Shipping markets remain cautious as vessel attacks and Houthi strikes continue despite improving diplomatic prospects
Fresh diplomatic momentum at the UN General Assembly has revived hopes of a negotiated reopening of the Strait of Hormuz, although continued attacks on shipping and regional energy infrastructure underline the fragility of any prospective deal
