The Strait of Hormuz remains fully open and under the control of the US Navy, a senior US official told Al Jazeera, responding to Iranian threats to establish a restricted zone. The waterway is a vital route for global oil and LNG (liquefied natural gas) shipments and has remained central to tensions between the United States and Iran. Market pricing indicates a reduced likelihood of an imminent US-Iran agreement on the strait before September 15, while concerns about higher military tensions could impede diplomacy. Observers are watching President Trump, Iranian Foreign Minister Abbas Araghchi and U.S. Central Command for official statements, military actions or signs of diplomatic progress.