IRGC says Iran, Oman agree at Hormuz talks to share revenue from shipping fees through Strait: media

Iran's Islamic Revolution Guard Corps (IRGC) said that agreements were reached on the share of the Strait of Hormuz's waters allocated to Iran and Oman, as well as their respective shares of revenues generated by the waterway, during talks between the two countries, the semi-official Tasnim news agency reported Wednesday.

IRGC spokesman Hossein Mohebbi told reporters that the strategic waterway remains under Iranian control and no vessel can pass through it without Iran's permission.

He said that Iran and Oman have reached agreements on their respective shares of the strait's waters and related revenues following negotiations.

Mohebbi blamed U.S. "obstructionism" for delaying the negotiation process, noting that if Washington returns to the peace memorandum of understanding (MoU) it signed with Iran in June, "we can open the Strait of Hormuz within the agreed framework."

IRGC says Iran, Oman agree at Hormuz talks to share revenue from shipping fees through Strait: media

International gold and silver prices declined on Wednesday, as stronger-than-expected U.S. inflation data reinforced expectations of a Federal Reserve rate hike next month, boosting the dollar and pressuring precious metals.

On the New York Mercantile Exchange, gold futures for December delivery fell 0.88 percent to settle at 4,653.30 U.S. dollars per ounce, while silver futures for September delivery dropped 0.96 percent to close at 68.026 dollars per ounce.

The declines came after the U.S. personal consumption expenditures (PCE) price index for July, released on Wednesday, pointed to persistent inflationary pressures, prompting traders to increase their bets on a rate increase at the Fed's September meeting.

Gold, silver prices fall on US inflation data, rate hike bets

Gold, silver prices fall on US inflation data, rate hike bets