(Bloomberg) — The US military said vessels that have no need to move between ports in the Gulf of Oman and the Strait of Hormuz should stay away, as tensions...

Saudi Arabia’s main shipping firm Bahri reported a 10-fold jump in third-quarter profit as its oil tanker business benefited from surging freight rates amid the Iran war.

Talks are aimed at reopening strait of Hormuz and lifting sanctions on Iran, and for Houthis to withdraw in Yemen

A multipronged peace deal to reopen the strait of Hormuz within four days of sanctions being lifted and for the Houthis to withdraw substantial forces inside Yemen are at the heart of Gulf states’ plans to avert what they regard as a disastrous renewal of war between Iran and the US.

The US is aware of the talks’ progress but is holding out for a concession that European powers suggest could involve Iran allowing UN weapons inspectors back into the country.

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© Photograph: Amirhosein Khorgooi/AP

© Photograph: Amirhosein Khorgooi/AP

© Photograph: Amirhosein Khorgooi/AP