Iran war live: Tehran-Oman talks on Hormuz ‘positive’; ship hit in Red Sea

Core Impact Points

• Iran says talks with Oman are proceeding 'positively' to reopen the Strait of Hormuz.
• US officials report 'progress' in the talks, with a possible agreement as early as 'today or tomorrow'.
• The Hormuz crisis is seen as a commercial, not military, problem by experts, with the US and other countries relying on the strait for oil imports.
• The Strait of Hormuz is a critical waterway for global oil trade, with over 20% of the world's oil passing through it.
• The crisis has implications for the US market, as the country relies heavily on oil imports from the Middle East.
• The US Treasury Secretary suggests that an agreement could be reached soon, which could have a positive impact on the global economy.