05/08/2026
Secretary of State Marco Rubio says negotiations over the Strait of Hormuz are making headway. Crude oil prices dropped below $80 per barrel as U.S. officials expressed optimism that a deal with Iran may be close. Rubio cautioned that while an agreement over the Strait is important, the real goal is Iran's denuclearization. Despite progress on one regional front, Gaza remains a major obstacle. Prime Minister Benjamin Netanyahu says Israel will not withdraw from Gaza until Hamas is fully disarmed, as a Hamas spokesman praised the terror group's "holy mission" to fight Israel "until we reach the end of this occupation and freedom for our people."