Is the Strait of Hormuz really open?

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Welcome to The Logoff: Iran says the Strait of Hormuz is open — but there’s no peace deal yet, and there are plenty of unanswered questions.

Here’s what we do know:
What’s happening with Hormuz? On Friday, Iran said that it was reopening the Strait of Hormuz for at least the remainder of the US-Iran ceasefire, which is currently set to expire next week.

In a post announcing the move, Iran’s foreign minister cited Thursday’s ceasefire in Lebanon as a reason for the reopening.

It’s another positive sign in ongoing US-Iran talks, which have yet to produce a deal, and it could have a quick impact on gas prices in the US, NPR reports, as oil prices also fall.

But plenty of hurdles remain.

For one, President Donald Trump says he intends to keep the US blockade of the strait in place until a deal is reached.

That means that while the strait might be reopened to much commercial traffic, Iranian oil likely won’t be able to get out.

Is a peace deal close? No one seems to know.

Trump has suggested that the US and Iran have reached an agreement on Iran’s nuclear material (Trump calls it “dust”), which he wants removed from the country.

But Reuters reported Friday that there are still “significant differences” preventing a deal, including around Iran’s nuclear program.

We’re likely to learn more about where things stand this weekend, as talks continue.

Right now, the two countries are staring down a Wednesday deadline, after which the current ceasefire expires.

However, if negotiations are ongoing and the Strait of Hormuz remains open, it’s not hard to see that deadline getting extended.

And with that, it’s time to log off…

Have a great weekend, and I’ll see you back here on Tuesday!