Iran offers seven-day plan to reopen Strait of Hormuz

Iran offered a seven-day plan to reopen the Strait of Hormuz and restart talks, a move that could ease crude supply disruptions through the Gulf, officials said.

Tehran's seven-day proposal

Officials said the proposal sets a seven-day timeline for measures meant to allow commercial vessels to transit the strait safely and for diplomatic contacts to resume between Tehran and Washington. The plan, as described by officials, links immediate steps to broader negotiations over outstanding disputes.

The Strait of Hormuz is a major oil chokepoint; when shipments slow there, freight costs and risk premia on crude can rise. Officials said an agreement to restore regular transit would be closely watched by commodity traders and by insurers who underwrite tanker voyages.

Market and logistical effects Officials said the proposal does not itself reopen shipping; it offers a framework for reciprocal action that would need rapid implementation.

If the window leads to a verified resumption of transit, officials said markets could see a decline in short-term risk premiums for Brent and Middle East crude grades.

Markets will watch whether talks begin and commercial shipping resumes by October 2, 2026, seven days after the offer; that date will be the near-term test of whether the proposal reduces disruption risk.