Iran Is Playing for Time as Midterms Loom for Trump

By Editorial Dept - Aug 07, 2026, 6:30 AM CDT Iran and Oman appear close to an agreement on reopening the Strait of Hormuz, but the remaining issues are substantial. Tehran would control inbound traffic while Oman would oversee outbound shipping, and Iran is seeking sanctions relief in exchange for toll-free passage. Washington opposes giving Iran control over shipping lanes, while the shipping industry has warned that proposed transit fees and existing U.S. sanctions could make the arrangement unworkable. Even if an agreement is announced, it would address shipping through Hormuz rather than the wider war. At the same time, Saudi Arabia is being pulled back into Yemen. The Houthis attacked two Saudi oil tankers on August 5 after weeks of escalating attacks on Saudi shipping and oil infrastructure, then launched ballistic missiles and drones against Saudi-backed Yemeni government forces in Marib and Hadhramaut on August 6, killing dozens of government troops. Riyadh has already responded with strikes and created a multinational maritime coalition to protect the Red Sea and Bab el-Mandeb. What had been a largely frozen Saudi-Houthi conflict since the 2022 truce is again becoming an active front in the Iran war. Earlier this week, CNN reported that U.S. Central Command sent an email to a broad group of military analysts and planners seeking “creative and unconventional ways to pressure and punish Iran.” Intelligence assessments have also now concluded that the existing air campaign would not likely force… COMMUNITY MEMBERSHIP (FREE) GLOBAL ENERGY ALERT ($697 $279 PER YEAR) Breaking energy stories before they hit the mainstream media Top quality analysis from industry veterans Exclusive investment opportunities Digestible data breakdowns Geopolitical insights from our network of over 600 operatives Risk-free 30-day money back guarantee