Iran is preparing conditions for reopening the Strait of Hormuz, a narrow maritime chokepoint between Iran and Oman through which about 20% of global oil consumption passes. Iranian authorities have not disclosed the terms, but they are expected to involve security guarantees and the lifting of certain sanctions. The move is viewed as an effort to use the strait's strategic importance in diplomatic negotiations while avoiding a full closure that could widen the regional conflict. The U.S. Energy Information Administration says roughly 21 million barrels of oil and petroleum products pass through the waterway each day. Any disruption could drive oil-price volatility, create supply shortages and affect economies worldwide. The announcement follows tanker seizures, drone attacks and an increased U.S. military presence, alongside calls for international patrols to protect shipping. Governments, shipping companies and energy markets are watching for concrete Iranian steps and reactions from the United States and other naval forces.