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The race to restore Hormuz

US and Iranian negotiators are seeking a lasting agreement on shipping through the Strait of Hormuz as Tehran pushes for long-term control over the strategic waterway.

This aerial photograph shows boats anchored off Oman's northern Musandam Peninsula near the Strait of Hormuz on June 27, 2026. — AFP via Getty Images

Welcome back to AL-MONITOR Business & Tech.

This week, we look at the latest in the US-Iran talks to fully reopen the Strait of Hormuz as well as postwar Syria’s growing energy sector and why Iraq is reportedly considering leaving OPEC.

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