[Iran Says Strait of Hormuz Negotiations with Oman Not Yet Finalized; Revolutionary Guard Accuses US of Obstructing Agreement] 1. A senior Iranian source said on Wednesday that Iran and Oman are still negotiating the specific details of the Strait of Hormuz agreement and have not yet reached a final agreement. Previously, a spokesperson for the Iranian Revolutionary Guard claimed that the two countries had reached an agreement on the division of control of the strait and the distribution of revenue, and that negotiations had been ongoing for about a month with "acceptable results." 2. The Revolutionary Guard reiterated Tehran's official position that the Strait of Hormuz will not be reopened unless the United States meets the conditions set by Iran in the June temporary ceasefire agreement—including ending the blockade of Iranian ports, providing compensation, and lifting sanctions. Following the talks, the Omani Foreign Minister expressed hope that a "temporary passage through the Strait of Hormuz" could be announced "soon" and practical arrangements for the resumption of safe navigation could be implemented. 3. The Iranian Revolutionary Guard accused the United States of attempting to obstruct negotiations between Iran and Oman, causing the agreement to be delayed. US President Trump had previously warned Oman against cooperating with Iran. The ongoing attacks on ships mean that navigation risks in the Strait of Hormuz remain. Iran recently released a blacklist of 45 vessels, intended to prevent Gulf oil-producing countries from circumventing the blockade through ship-to-ship transshipment. 4. As signs of renewed mediation efforts emerge, international oil prices fell for the third consecutive day, dropping by more than 1.5%. Meanwhile, the United States threatened to punish countries that continue to do business with Iran, but stated that it would not impose immediate penalties.

Spot silver rose 1.00% to $68.78 per ounce on the day; COMEX silver futures were last quoted at $68.75 per ounce, up 1.07% on the day.

Spot platinum has just broken through the $1840.00/oz mark, last trading at $1840.42/oz, up 0.58% on the day; Nymex platinum futures main contract was last trading at $1842.2/oz, down 1.04% on the day.