Talks between the United States and Iran have recently shown some progress, giving hope that further conflict in the region might be avoided. However, important disagreements remain, especially about nuclear issues and control of the Strait of Hormuz. Both sides have spoken about good discussions, but the United States says it will not accept pressure over the important waterway.

Iran has again increased its control over Hormuz, after first easing its rules. Tehran says this action is a reply to the ongoing US blockade of Iranian ports, which it believes breaks the ceasefire. The United States disagrees and sees Iran's actions as an attempt to gain a better position in the talks.

The situation in the region is still very uncertain. The war has lasted eight weeks, and the latest ceasefire is still weak. No side has given details about a lasting agreement. As long as control of Hormuz remains unclear, markets and governments will continue to worry about possible problems with oil supply and prices.