US, Iran Extend Pause on Strikes as Talks Focus on Hormuz

Watch on YouTube ↗  |  July 28, 2026 at 15:15  |  1:41  |  Bloomberg Markets
Speakers
Tyler Kendall — Multimedia Editor, Bloomberg

Summary

The US and Iran extended their pause in hostilities for a fourth day, with Oman mediating a potential deal to reopen the Strait of Hormuz. Talks aim to restart traffic and resume nuclear negotiations. Tanker diversions via Egypt highlight ongoing shipping disruptions, while President Trump maintains a threat of renewed strikes if progress stalls.

  • US-Iran strikes paused for four consecutive days.
  • Oman mediating to reopen the Strait of Hormuz and enable US-Iran talks.
  • Middle passage reopening considered, but mines placed by Iran remain a concern.
  • Strait of Hormuz traffic still stalled; Red Sea traffic also dwindling.
  • At least eight supertankers redirected to an Egyptian port to load Saudi crude.
  • Trump in contact with Saudi Arabia over Houthi shipping threats, ready to intervene.
  • Iran and Saudi Arabia foreign ministers held a phone call amid diplomacy.
  • Trump says good chance of a deal, but threatens to resume strikes if no progress.
Up Next