US Iran MoU Expires Unextended as Hormuz Traffic Falls to Near Zero
The 60-day negotiating window established by the June 17 US-Iran Memorandum of Understanding lapsed August 17 without extension or active talks, leaving the Oman-Iran shipping lane channel as the only diplomatic track still functioning. Strait of Hormuz commercial transits dropped from roughly 31 vessels on the prior weekend to five on August 15 and none recorded on August 16, against a pre-war baseline of more than 130 ships per day. The US Strategic Petroleum Reserve simultaneously fell to 298.7 million barrels, its lowest level since January 1983, as both sides dispute whether the MoU was ever in effect and no formal US statement on its expiration has been issued.