{"id":597738,"date":"2026-05-07T13:10:00","date_gmt":"2026-05-07T13:10:00","guid":{"rendered":"https:\/\/buglecall.org\/?p=597738"},"modified":"2026-05-07T13:10:00","modified_gmt":"2026-05-07T13:10:00","slug":"oil-slides-on-reports-of-breakthrough-coming-for-stuck-ships-in-hormuz-as-us-awaits-tehrans-response-to-fresh-proposal-2","status":"publish","type":"post","link":"https:\/\/buglecall.org\/?p=597738","title":{"rendered":"Oil Slides On Reports Of &#8216;Breakthrough&#8217; Coming For Stuck Ships In Hormuz, As US Awaits Tehran&#8217;s Response To Fresh Proposal"},"content":{"rendered":"<p><span class=\"field field--name-title field--type-string field--label-hidden\">Oil Slides On Reports Of &#8216;Breakthrough&#8217; Coming For Stuck Ships In Hormuz, As US Awaits Tehran&#8217;s Response To Fresh Proposal<\/span><\/p>\n<div class=\"clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item\">\n<h2>Summary<\/h2>\n<ul>\n<li>\n<p dir=\"auto\"><em>Sentiment in early morning trade was lifted after Al Arabiya reported that <strong>&#8220;the coming hours will witness a breakthrough for the situation of the ships stuck in the strait&#8221;<\/strong>.<\/em><\/p>\n<\/li>\n<li>\n<p dir=\"auto\"><i>Pakistani sources said Trump has <strong>demanded Iran&#8217;s &#8220;immediate response&#8221; to Washington&#8217;s peace proposal<\/strong><\/i>.<\/p>\n<\/li>\n<li>\n<p dir=\"auto\"><i>White House on Wednesday had said it expects a\u00a0<strong>response to the latest offer within 48 hours<\/strong>.<\/i><\/p>\n<\/li>\n<li>\n<p dir=\"auto\"><i><strong>French nuclear-powered carrier steams through Suez Canal<\/strong> in support mission as <strong>Europe seeks diplomatic influence over Hormuz outcome<\/strong>.<\/i><\/p>\n<\/li>\n<li>\n<p dir=\"auto\"><em><strong>First Chinese tanker reportedly attacked<\/strong>: shipping industry source told Caixin that this was the first time a Chinese tanker was hit in the three-month-long war, calling it <strong>&#8220;psychologically very hard to accept.&#8221;<\/strong><\/em><\/p>\n<\/li>\n<\/ul>\n<figure aria-label=\"Polymarket prediction market: Strait of Hormuz traffic returns to normal by end of May?\" class=\"polymarket-embed\"><figcaption><strong>Strait of Hormuz traffic returns to normal by end of May?<\/strong><br \/>\nYes 36% \u00b7 No 65%<br \/><a href=\"https:\/\/polymarket.com\/event\/strait-of-hormuz-traffic-returns-to-normal-by-end-of-may\">View full market &amp; trade on Polymarket <\/a><\/figcaption><\/figure>\n<p>*\u00a0 *\u00a0 *<\/p>\n<h2>Oil Slides on Reports of &#8216;Breakthrough&#8217; Coming for Stuck Ships<\/h2>\n<p>A very optimistic but unconfirmed early Thursday report:\u00a0Sentiment in early morning trade was lifted after Al Arabiya reported that <strong>&#8220;the coming hours will witness a breakthrough for the situation of the ships stuck in the strait&#8221;<\/strong>.<\/p>\n<p>&#8220;The American naval blockade in the Strait of Hormuz is likely to be lifted after Washington and Tehran reportedly reached an agreement in this regard,&#8221; the Saudi media report says. &#8220;The agreement between both the sides on lifting the naval blockade was reached upon on Thursday (may 7) after US agreed for a gradual reopening of the Strait of Hormuz.&#8221;<\/p>\n<p>Oil has been sliding through the morning&#8230;<\/p>\n<p><a data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/2026-05-07_05-52-47.png?itok=Npi5udQZ\" data-link-option=\"0\" href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/2026-05-07_05-52-47.png?itok=Npi5udQZ\"><img fetchpriority=\"high\" decoding=\"async\" data-entity-type=\"file\" data-entity-uuid=\"579cd01c-99a0-44aa-a00c-4b4f2886238d\" data-responsive-image-style=\"inline_images\" height=\"325\" width=\"500\" class=\"inline-images image-style-inline-images\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/2026-05-07_05-52-47.png?itok=Npi5udQZ\" alt=\"\" \/><\/a><\/p>\n<p>And here&#8217;s a huge\u00a0<em>but\u00a0<\/em>from <a href=\"https:\/\/www.politico.com\/news\/2026\/05\/06\/iran-deal-obstacle-trump-ego-00909102\">Politico<\/a>:<\/p>\n<blockquote>\n<p><em>President Donald Trump\u2019s constant belittling of Iranian leaders is <strong>alarming some Arab and U.S. officials familiar with the Middle East who worry that such insults could prove a major obstacle to truly ending a war that has strained the world economy<\/strong>. At the core of their concern is whether Trump is willing to show Tehran\u2019s Islamist leaders enough respect to let them claim some level of victory, even if they agree to U.S. demands that leave them militarily weaker.<\/em><\/p>\n<p><em><strong>\u201cHe badly wants this to end,\u201d <\/strong>a senior Gulf Arab official familiar with the peace talks said of Trump. \u201cBut the Iranians are so far refusing to give him what he needs to save face and leave. And he does not seem to understand that they need to save face, too.\u201d<\/em><\/p>\n<\/blockquote>\n<h2>French Nuclear-Powered Carrier to Enter Red Sea, Gulf of Aden<\/h2>\n<p>France and Britain could be poised to very belatedly join the US military in Middle East regional waters, according to movements of warships as well as fresh statements. Egypt and France on Wednesday oversaw the\u00a0<strong>transit of the French aircraft carrier Charles de Gaulle through the Suez Canal\u00a0<\/strong>as part of a southbound convoy, the Suez Canal Authority announced.<\/p>\n<p data-end=\"189\" data-start=\"0\">The French Ministry of the Armed Forces has announced the\u00a0<strong>nuclear-powered carrier is deploying to the Red Sea and Gulf of Aden\u00a0<\/strong>as part of a multinational effort to restore navigation through the Strait of Hormuz, according to a fresh statement. So it&#8217;s clear the convoy will remain largely in a\u00a0<strong>background support role when compared to the US naval blockade in the Gulf of Oman region<\/strong>. Paris and London have also made clear their ships would only directly join Persian Gulf operations\u00a0<strong>only once the war ended<\/strong>.<\/p>\n<p data-end=\"189\" data-start=\"0\">On a technical level, the White House has just this week sought to pronounce that Operation Epic Fury has ended, and Project Freedom has begun. It&#8217;s unclear whether the European allies buy this designation, however. Marcon has sought to make clear that France is not a party to the conflict, but Europe is seeking a diplomatic voice at the table after spending the last two months largely on the sidelines.<\/p>\n<h2>Two Key Gulf Allies Reportedly Suspended Base, Airspace Access For US<\/h2>\n<p>President Trump\u00a0<strong>abruptly halted plans to support commercial shipping through the Strait of Hormuz after Saudi Arabia suspended US military access<\/strong>\u00a0to its bases and airspace for the operation, two US officials told\u00a0<a href=\"https:\/\/www.nbcnews.com\/politics\/white-house\/trumps-abrupt-u-turn-plan-re-open-strait-hormuz-came-backlash-allies-rcna343845\">NBC<\/a>. Kuwait is reported to have imposed similar restrictions in wake of being on the receiving end of Iranian missiles.<\/p>\n<p data-end=\"629\" data-start=\"229\">According to the officials, Trump caught Gulf allies off guard when he announced Project Freedom on Truth Social, triggering anger in Riyadh. Saudi Arabia is said to have responded by informing Washington that US forces would\u00a0<strong>not be permitted to operate aircraft from Prince Sultan Air Base southeast of Riyadh or transit Saudi airspace in support of the mission<\/strong>. Other Gulf allies were also reportedly surprised by the development, with\u00a0<a href=\"https:\/\/x.com\/DropSiteNews\/status\/2052189537443422510\">Drop Site News<\/a>\u00a0also reporting\u00a0<strong>Kuwait has made a similar move<\/strong>\u00a0to cut or restrict base access.<\/p>\n<p data-end=\"629\" data-start=\"229\">But here is how Trump framed\u00a0<a href=\"https:\/\/www.zerohedge.com\/geopolitical\/two-us-navy-destroyers-transit-hormuz-strait-iranian-factions-reportedly-clash-over\">the pause<\/a>\u00a0at the time in a Truth Social post: &#8220;Based on the request of Pakistan and other Countries, the tremendous Military Success that we have had during the Campaign\u00a0against the Country of Iran and, additionally&#8221;&#8230; and he also said it was necessary &#8220;<strong>to see whether or not the Agreement can be finalized and signed<\/strong>.<strong>&#8220;<\/strong>\u00a0By the following day it became clear that the two sides were no closer to getting to the negotiating table, much less actually inking an agreement to end the war.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\" xml:lang=\"en\">President Trump has laid out a clear choice for Iran: Reach a deal, or the bombing resumes. <a href=\"https:\/\/t.co\/isThSrLwo9\">pic.twitter.com\/isThSrLwo9<\/a><\/p>\n<p>\u2014 Trey Yingst (@TreyYingst) <a href=\"https:\/\/twitter.com\/TreyYingst\/status\/2052364868062208490?ref_src=twsrc%5Etfw\">May 7, 2026<\/a><\/p><\/blockquote>\n<p data-end=\"1786\" data-start=\"1519\">The White House is meanwhile <strong>denying the main content of the NBC report<\/strong>, with\u00a0one official insisting that &#8220;regional allies were briefed in advance.&#8221;<\/p>\n<h2>First Chinese Tanker Attacked Near Hormuz As Beijing Urges Waterway Reopened<\/h2>\n<p>There have certainly been escalating tensions in the Strait of Hormuz this week amid a wave of Iranian attacks on commercial ships after a U.S. military effort to escort merchant vessels through the maritime chokepoint. By midweek, tensions had simmered, and Iran is still reviewing a <a href=\"https:\/\/www.zerohedge.com\/markets\/sp500-futs-jump-bonds-rally-oil-tanks-axios-report-us-iran-nearing-deal\">14-point U.S. proposal<\/a> to end the war, with Tehran expected to send its response to Pakistani mediators later today.<\/p>\n<p>President Trump said talks with Iran have been &#8220;very good&#8221; and suggested a deal remains possible. Iran&#8217;s Foreign Ministry confirmed the U.S. proposal is still under review. But when chaos erupted on the world&#8217;s most critical waterway at the beginning of the week, a new report said that a large refined-products tanker owned by a Chinese shipowner was attacked off the UAE&#8217;s Al Jeer port on Monday, according to <a href=\"https:\/\/www.reuters.com\/world\/china\/first-chinese-product-tanker-attacked-monday-near-strait-hormuz-caixin-reports-2026-05-07\/\">Reuters<\/a>.<\/p>\n<p>Beijing-based business media outlet <a href=\"https:\/\/www.caixinglobal.com\/2026-05-07\/first-chinese-oil-tanker-attacked-in-strait-of-hormuz-as-iran-us-conflict-escalates-102441479.html\">Caixin<\/a> reported that the vessel&#8217;s deck erupted in flames after the attack. The outlet noted the vessel was marked &#8220;CHINA OWNER &amp; CREW.&#8221; A shipping industry source told Caixin that this was the first time a Chinese tanker was hit in the three-month-long war, calling it <strong>&#8220;psychologically very hard to accept.&#8221;<\/strong><\/p>\n<p><a data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/2026-05-07_06-51-40.png?itok=pJeOPABz\" data-link-option=\"0\" href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/2026-05-07_06-51-40.png?itok=pJeOPABz\"><img decoding=\"async\" data-entity-type=\"file\" data-entity-uuid=\"5658e3a2-ddd6-4a04-87bf-b5161d78162f\" data-responsive-image-style=\"inline_images\" height=\"282\" width=\"500\" class=\"inline-images image-style-inline-images\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/2026-05-07_06-51-40.png?itok=pJeOPABz\" alt=\"\" \/><\/a><\/p>\n<p>Shortly after the Chinese tanker was attacked, it became clear why, two days later on Wednesday, China&#8217;s Foreign Minister Wang Yi called for the swift reopening of the Hormuz chokepoint. &#8220;The international community shares a common concern for the restoration of normal and safe passage of the strait,&#8221; Foreign Minister Wang Yi told Iran&#8217;s Abbas Araghchi, according to an official Chinese statement. &#8220;China hopes that the parties concerned will respond to the strong appeal of the international community as soon as possible.&#8221;<\/p>\n<p>China&#8217;s urgency to resolve the highly disrupted Hormuz chokepoint comes just over a week before President Trump flies to Beijing to meet with President Xi Jinping. The big question is whether China will cooperate with the U.S. to end the conflict and reopen the Strait, as much of the tanker flow through this critical waterway is destined for Asia, and the disruption has led to fuel <a href=\"https:\/\/www.zerohedge.com\/markets\/global-demand-destruction-subsidies-empty-gas-stations-rationing-flight-cancelations-export\">shortages and soaring prices of crude<\/a> oil and related products in the region.<\/p>\n<p>&#8220;China likes to present itself as a great stabilizing force in the world, but imagine if they had a genuine diplomatic achievement, such as brokering the opening of the Strait of Hormuz, as proof of that,&#8221; Richard McGregor, senior fellow at the Lowy Institute, told Bloomberg. He noted that some in Beijing would advocate for using the moment to &#8220;squeeze some concessions out of the US&#8221; on issues such as Taiwan. The first Chinese tanker attacked in the U.S.-Iran conflict, as well as the upcoming Trump-Xi summit, might be the catalysts for the international community to pressure Iran into a peace deal with the U.S. Meanwhile, a French aircraft carrier is transiting through the southern part of the Suez Canal and into the Red Sea, preparing to restore Hormuz tanker flows.<\/p>\n<h2>More Regional Developments<\/h2>\n<p><em>via Newsquawk<\/em><\/p>\n<ul>\n<li>Al Arabiya reported that &#8220;the coming hours will witness a breakthrough for the situation of the ships stuck in the strait&#8221;, spurring pressure in the crude complex.<\/li>\n<li>Iran is expected to provide its reply to the US proposal for ending the war to mediators on Thursday, according to CNN, citing a regional source.<\/li>\n<li>US President Trump could turn to military action without an agreement with Iran ahead of the China trip, according to Axios, citing US officials.<\/li>\n<li>Iran is expected to provide its reply to mediators on Thursday, CNN reported citing a regional source.<\/li>\n<li>&#8220;Arabic sources: Reaching understandings regarding easing the siege in exchange for the gradual opening of the Strait of Hormuz &#8220;, Al Arabiya reported; &#8220;The coming hours will witness a breakthrough for the situation of the ships stuck in the strait&#8221;.<\/li>\n<li>Pakistani Foreign Ministry spokesperson said, &#8220;We do not talk about war and instead talk about dialogue and diplomacy. However, if any aggression similar to what we saw last year, we will respond; Pakistan will respond just as it did&#8221;, Mallick posted.<\/li>\n<li>Pakistani Foreign Ministry Spokesperson said &#8220;We have not yet received a response from Iran regarding the US amendments&#8221;, Al Jazeera reported.<\/li>\n<li>&#8220;Pakistani source to Al Arabiya said Iran may hand over its response to the US proposal to the Pakistani mediator today&#8221;, Al Arabiya.<\/li>\n<li>&#8220;No arrangements for any direct meetings between the Iranians and the Americans so far.&#8221;.<\/li>\n<li>&#8220;Contacts with the Iranians are ongoing and there are no obstacles hindering continued&#8221;.<\/li>\n<li>&#8220;Discussions are ongoing regarding the status of the Strait of Hormuz, and reaching understandings is still possible&#8221;.<\/li>\n<li>Pakistani Foreign Ministry said &#8220;We expect an urgent agreement between Iran and the United States&#8221;, Al Araby reported.<\/li>\n<li>&#8220;Israel was informed that Iran has agreed to transfer its stockpile of 60% enriched uranium to a third country that remains unknown&#8221;, Sky News Arabia reported citing Israeli Channel 12.<\/li>\n<li>Pakistani Foreign Ministry spokesperson, on US-Iran agreement, said &#8220;we would expect an agreement sooner rather than later&#8221;, Pakistani journalist Mallick posted.<\/li>\n<li>&#8220;We will welcome any settlement wherever that takes place, if it takes place in Islamabad, it would be an honour and privilege.\u201d.<\/li>\n<li>The proposed agreement between the US and Iran may limit the IDF&#8217;s action in Lebanon, Israeli press reported citing an Israeli official.<\/li>\n<li>US President Trump, on Iran, said it will all work out very quickly.<\/li>\n<li>IDF said it has intercepted suspicious aerial target launched from Lebanon towards Israel following sirens that sounded in Manara, Margaliot and Kiryat Shmona.<\/li>\n<li>Lebanon&#8217;s PM Salam said it is not seeking normalisation with Israel and it is too early to discuss any possible meeting with Israeli PM Netanyahu.<\/li>\n<li>Iran has issued a message to commercial vessels in the Strait of Hormuz, saying Iran&#8217;s port is fully prepared to provide general maritime services and support to the vessels, IRNA reported.<\/li>\n<li>US President Trump could turn to military action without an Iran agreement ahead of the China trip, Axios reported citing US officials.<\/li>\n<li>US President Trump&#8217;s reversal on his plan to help ships go through the Strait of Hormuz came after Saudi Arabia suspended the US&#8217;s ability to use its bases and airspace to carry out Project Freedom, NBC reported citing US officials.<\/li>\n<li>IRGC Navy Political Affairs Official said we will impose our control over the Strait of Hormuz, and any attack will be met with a plan beyond the enemy&#8217;s calculations, Al Jazeera reported.<\/li>\n<\/ul>\n<\/div>\n<p>      <span class=\"field field--name-uid field--type-entity-reference field--label-hidden\"><a title=\"View user profile.\" href=\"https:\/\/cms.zerohedge.com\/users\/tyler-durden\" lang=\"\" class=\"username\" xml:lang=\"\">Tyler Durden<\/a><\/span><br \/>\n<span class=\"field field--name-created field--type-created field--label-hidden\">Thu, 05\/07\/2026 &#8211; 09:10<\/span><img decoding=\"async\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/2026-05-07_05-52-47.png?itok=Npi5udQZ\" title=\"Oil Slides On Reports Of 'Breakthrough' Coming For Stuck Ships In Hormuz, As US Awaits Tehran's Response To Fresh Proposal\" \/><\/p>","protected":false},"excerpt":{"rendered":"<p>Oil Slides On Reports Of &#8216;Breakthrough&#8217; Coming For Stuck Ships In Hormuz, As US Awaits Tehran&#8217;s Response To Fresh Proposal Summary Sentiment in early morning trade was lifted after Al Arabiya reported that &#8220;the coming hours will witness a breakthrough for the situation of the ships stuck in the strait&#8221;. Pakistani sources said Trump has&hellip; <a class=\"more-link\" href=\"https:\/\/buglecall.org\/?p=597738\">Continue reading <span class=\"screen-reader-text\">Oil Slides On Reports Of &#8216;Breakthrough&#8217; Coming For Stuck Ships In Hormuz, As US Awaits Tehran&#8217;s Response To Fresh Proposal<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":597731,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[18,19,10,21,12,11,9],"tags":[],"class_list":["post-597738","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cancel-culture","category-censorship","category-civil-liberties","category-election-integrity","category-equal-justice","category-free-speech","category-religious-freedom","entry"],"_links":{"self":[{"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/posts\/597738","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=597738"}],"version-history":[{"count":0,"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/posts\/597738\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/media\/597731"}],"wp:attachment":[{"href":"https:\/\/buglecall.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=597738"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=597738"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=597738"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}