Iran's chief negotiator, Mohammad Baqer Qalibaf, announced that discussions with the United States have progressed, although significant differences persist regarding nuclear restrictions and the status of the Strait of Hormuz. Both sides maintain firm positions, with Qalibaf indicating that while progress has been made, a considerable gap remains. US President Donald Trump echoed optimism about the talks but cautioned against perceived attempts at 'blackmail' related to the strategic waterway. Tensions in the Strait of Hormuz have escalated as Iran seeks to reinforce its authority over this crucial global energy corridor, which typically handles about one-fifth of the world's oil supply. Iran's Revolutionary Guard has issued warnings to vessels, asserting that any approach to the strait would be viewed as cooperation with hostile forces. The urgency for a resolution is amplified as a ceasefire linked to the US-Israeli conflict nears its expiration, with Trump warning that failure to reach an agreement could lead to renewed military action. The situation has also impacted global oil markets, with prices dropping approximately 10% amid concerns over potential disruptions.