Middle East tensions remained in market focus on Aug. 8, but the Strait of Hormuz showed tentative signs of de-escalation even as fighting and sanctions pressure continued elsewhere in the region. In Yemen, the navy said it had foiled an attempted attack on an oil tanker in the Red Sea, while the Houthis said Yemeni armed forces struck assembled forces inside Saudi Arabia as well as ammunition depots, vehicles and military equipment at the Sahen King camp. On U.S.-Iran talks, the Iranian president said Tehran had made "no concessions" in negotiations involving a memorandum of understanding. Axios reported that a diplomat from a mediating country said Iran's negotiating team was waiting for the Supreme National Security Council to approve a related agreement with Oman and the United States, with approval expected soon. Around the Strait of Hormuz (a key global oil chokepoint), officials on both sides signaled movement toward an arrangement on passage. U.S. Treasury Secretary Bessent said the waterway would lose importance in the future, while Iran's deputy foreign minister said security in the Persian Gulf should be maintained jointly by regional states without outside interference. Shipping intelligence firm Kpler said only six tankers passed through the strait this week. Iranian officials said a general framework on transit had been clarified with Oman, and U.S. officials also expected an agreement soon, although Tehran continued to stress its position. Tehran mayor Zakani said sanctions must be lifted and compensation paid for passage through the strait, and Iranian Foreign Minister Araghchi said Iran's armed forces had demonstrated their readiness, capability and strength against what he called the world's most expensive military force. Elsewhere, Lebanon said talks with Israel had made progress on border issues, the United States placed 13 entities on an Iran-related sanctions list, and Turkey, Saudi Arabia and Pakistan signed a joint defense pact treating an armed attack on any one of the three as an attack on all.