Tehran communicates willingness to allow select shipping while oil prices and global markets react to developments.

By yourNEWS Media Newsroom

Iran has indicated it will permit passage for vessels it considers non-hostile through the Strait of Hormuz, according to a communication sent to the United Nations.

The message, delivered through the International Maritime Organization and dated March 22, outlines conditions under which certain ships may transit the strategic waterway.

The development comes as the United States continues efforts to end the conflict. President Donald Trump said Tuesday that discussions are underway.

“They’re talking to us and they’re talking sense,” Trump said in the Oval Office.

A U.S. proposal outlining terms to end hostilities was conveyed to Iranian leadership through Pakistani officials. The plan includes multiple provisions aimed at resolving the conflict, though Iranian officials have publicly denied engaging in direct negotiations with U.S. representatives.

Financial and energy markets reacted to the developments.

  • Brent crude declined approximately 5% to about $99 per barrel
  • West Texas Intermediate crude recorded a second consecutive daily drop

Equity markets showed gains across multiple regions:

  • S&P 500 futures rose about 0.6%, though remain roughly 5% lower compared to a month earlier
  • Japan’s Nikkei index increased about 2.9%
  • South Korea’s Kospi index climbed 1.6%
  • European markets advanced approximately 1%

Fuel costs for consumers in the United States continued to rise despite the drop in crude prices.

  • National average gasoline price reached $3.98 per gallon
  • Prices are up approximately 34% since the start of the conflict

The Strait of Hormuz remains a critical corridor for global energy shipments, and shipping activity continues to depend on evolving security conditions and diplomatic developments.

Original article
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