Oil prices rose Sunday after an Iranian official warned that the Strait of Hormuz will “under no circumstances” return to its previous state.

Iran through Pakistani mediators gave the US a new proposal on reopening of the Strait of Hormuz and the ending of the war, with nuclear negotiations postponed for a later stage, Axios reported on Sunday,

Iran has reportedly sent a fresh proposal to the United States through Pakistani intermediaries aimed at ending the conflict and reopening the Strait of Hormuz, as efforts to secu

Trump says the blockade of the Strait of Hormuz will remain and attacks will resume if no agreement is reached with Iran.

The diplomatic initiative surfaces at a time when peace efforts have largely stalled. US President Donald Trump recently remarked that Tehran could "call" Washington should it wish to negotiate, while maintaining his firm stance that Iran must never acquire nuclear weapons.

The United Arab Emirates also has pipelines that can send oil to Fujairah on the Gulf of Oman, bypassing the Strait of Hormuz. And over the next two and half to three years, the UAE will look to reduce its Hormuz exposure from 50% of its oil exports to zero, downgrading the narrow waterway to a “commercial afterthought,” according to Cohen.

Progress toward a diplomatic resolution in the war with Iran stalled Saturday, with President Trump announcing that special envoy Steve Witkoff and the president' son-in-law Jared Kushner would not take part in continuing negotiations brokered by Pakistan.

US military officials are developing new plans to target Iran’s capabilities in the Strait of Hormuz in the event the current ceasefire with Iran falls apart, according to multiple sources familiar with the matter.