Trump wants Iran talks to focus on nuclear issue, not Hormuz

This point carries less weight for immediate market moves and more for how investors should gauge the potential for a quick de-escalation in the Strait of Hormuz. If Washington prefers to keep its own bilateral pressure aimed at Tehran's atomic ambitions rather than joining directly in discussions on Hormuz access, the shipping and fee track will likely continue through Oman and Gulf nations, with limited direct US involvement, for good or ill. That could mean slower headway on a lasting reopening plan, since the side with the most military clout over the strait is opting not to anchor its diplomacy there, yet it might also reduce the chance of the US complicating an Omani-mediated deal with separate nuclear-linked conditions. Either way, this signals continued dependence on regional diplomacy, rather than a US-Iran breakthrough, as the more likely route to lowering the current oil price premium, underscoring why delays like the one already noted matter rather than being mere footnotes.

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Earlier:

• Weekend: Tanker hit by projectile in Hormuz as fresh attacks reported at sea
• Oil gap higher: Saudi pipeline shut after drone attack as Hormuz meeting is postponed

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Washington appears fine with letting Iran, Oman, and Gulf states manage Hormuz diplomacy themselves, while keeping its own leverage over Tehran for the nuclear file.

Summary:

• Three sources familiar with the matter told CNN that Trump administration officials have privately told Gulf region counterparts they want future US-Iran negotiations to focus on Iran's nuclear program rather than reopening the Strait of Hormuz.
• The US was notably absent from the now postponed Monday meeting in Oman between Iran and Gulf Arab states, which had been intended to discuss an Omani plan for restoring regular tanker traffic through the strait.
• Diplomats had reportedly been hopeful the gathering could build momentum after months of private talks on a legal framework allowing Iran and Oman to collect fees for safe passage.
• The Omani framework reportedly centres on voluntary payments for navigational safety and environmental protection, since outright Iranian transit tolls remain widely rejected by other parties.
• President Trump has maintained that the current state of the waterway is acceptable for now, citing the US military's tanker escort operation as sufficient in the interim.

Privately, Trump administration officials have conveyed to Gulf counterparts their wish that any future talks with Iran be centered on Tehran's nuclear program, not on reopening the Strait of Hormuz, as per three sources acquainted with the matter quoted by CNN.

This revelation sheds light on the notable absence from Monday's delayed Oman gathering between Iran and Gulf Arab states, an event meant to further an Omani-brokered scheme for resuming normal tanker traffic via the strait. The US was not slated to participate in that session, despite Hormuz shipping staying severely hampered and despite Washington running a naval escort operation for tankers passing through the waterway. President Trump has indicated the strait's current condition is acceptable for now given that escort presence, hinting the administration sees no urgent need to step into the Hormuz-specific diplomatic arena.

Based on CNN's sourcing, diplomats had been optimistic the Oman meeting could gain momentum following months of quiet discussions on a legal structure enabling Iran and Oman to charge fees for vessels using the strait. The emerging Omani approach reportedly favors voluntary contributions tied to navigational safety and environmental protection, an option with greater support among regional players than outright Iranian transit tolls, which are still broadly opposed. That negotiation seems to be advancing mostly as a matter among Tehran, Muscat, and other Gulf states, rather than one Washington has tried to direct directly.

The takeaway from CNN's report is that the Trump administration appears prepared to let Hormuz-specific diplomacy proceed through Oman and the Gulf states, while saving its own bilateral leverage with Iran for the nuclear issue specifically. This separation of tracks could influence how quickly, or slowly, a durable shipping arrangement for the strait takes shape, given that the party with the most direct military influence over the waterway is not employing that influence as a bargaining chip in the Hormuz discussions themselves.

The distinction is likely to play a role in how the current diplomatic setback is interpreted. With the Oman meeting already postponed following the attack on Saudi Arabia's East-West pipeline, and with Washington positioned as an observer rather than a participant in the shipping talks, the path to easing the Hormuz standoff appears to hinge mainly on whether Iran, Oman, and the broader Gulf can find common ground among themselves, apart from any parallel developments—or lack thereof—in the wider US-Iran nuclear relationship.