Iran Deal Nears As Drones Fly Over Hormuz
Washington and Tehran appeared close to an interim peace agreement even as U.S. forces reported fresh Iranian drone activity near the Strait of Hormuz, leaving oil markets, allies and adversaries watching for proof that diplomacy can outrun escalation.
A tentative U.S.-Iran draft agreement was reported to include the reopening of the Strait of Hormuz, eased pressure on Iranian ports and a 60-day negotiating period over the nuclear file. The outline suggested a possible turn away from a widening Gulf war, but the details remained contested and politically explosive.
The danger is that diplomacy and military action are now moving on parallel tracks. Israel has rejected limits on its military freedom, Iran is claiming leverage, and markets are reacting to each hint of progress or confrontation before the underlying conflict is truly settled.