Iran's parliament speaker labeled U.S. engagement 'theater diplomacy' as shipping traffic through the Strait of Hormuz and Bab el-Mandeb drops significantly.
Key facts
- •Mohammad Bagher Ghalibaf dismissed Trump's claims of a settled deal as 'theater diplomacy' in a post on X.
- •Traffic through the Strait of Hormuz fell to two vessels on Wednesday, far below the typical 130 to 140 daily transits.
- •A draft plan between Iran and Oman proposes barring U.S. and Israeli ships from the Strait of Hormuz.
- •Saudi officials reported intelligence indicating planned attacks by Iran-backed groups in the near future.
- •Brent crude prices rose to $83.55 per barrel following reports of Iran's restrictive maritime policies.
Iranian Parliament Speaker and chief negotiator Mohammad Bagher Ghalibaf has accused U.S. President Donald Trump of engaging in "theater diplomacy" regarding bilateral negotiations. The criticism follows conflicting reports from Washington and Tehran over the status of potential talks to end ongoing regional hostilities. Meanwhile, shipping traffic through critical regional chokepoints has declined sharply as tensions escalate.
By the numbers
Shipping and Security Disruptions
Shipping activity has fallen significantly in the region's primary chokepoints. According to Kpler vessel-tracking data, only two vessels transited the Strait of Hormuz on Wednesday, compared to a pre-war baseline of 130 to 140 daily transits. Traffic through the Bab el-Mandeb strait dropped to a single vessel on the same day, down from 20 the previous day. Security concerns are also mounting, with Saudi Arabia reporting warnings of potential coordinated attacks by Iran-backed Iraqi militias and Houthi forces. These warnings follow recent Houthi claims of responsibility for attacks on two Saudi oil tankers in the Gulf of Aden.
Proposed Maritime Restrictions
Iran and Oman are reportedly reviewing a draft plan to manage traffic through the Strait of Hormuz. According to the semi-official Fars news agency, the proposal would bar U.S. and Israeli ships from the waterway, along with vessels from countries that have caused damage to Iran. The plan includes potential penalties for violators, reaching up to 20% of the cargo's value.
Market and Political Reactions
Oil prices rose on Friday following reports of Iran's hardening stance on maritime traffic. Brent crude futures for October delivery increased 1.3% to $83.55 per barrel, while WTI crude futures for September rose 1.1% to $78.17. Separately, President Trump addressed reports regarding U.S. munitions supplies, stating on Truth Social that the U.S. maintains significant stockpiles, though he later acknowledged to reporters that certain munitions are in tighter supply.
Timeline
- WednesdayOnly two vessels transited the Strait of Hormuz.
- ThursdayMohammad Bagher Ghalibaf posted his criticism of U.S. diplomacy on X.
- FridayOil prices rose as markets reacted to Iran's stance on maritime traffic.
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This article was independently rewritten by ManyPress editorial AI from reporting originally published by CNBC Europe.
