Iran declares sovereign rights over Strait of Hormuz non-negotiable

Iran has declared its sovereign rights over the Strait of Hormuz as non-negotiable. Meanwhile, US airstrikes against Iran have continued for nine days to reopen the strait. Despite five months of US-Iran war, oil prices remain stable, with Brent crude retreating to $75-$83 after previously exceeding $100. Current market data indicates traffic normalizing by August 31 at 15.5%, while oil prices maintain stability amid ongoing tensions and the gradual reopening of the Strait of Hormuz.