Technologies

Iran claims U.S. is blocking Hormuz deal as Oman talks continue

Iran’s Revolutionary Guard accuses the U.S. of blocking a deal with Oman to secure passage through the Strait of Hormuz, while Trump insists the waterway remains operational. Oil prices dipped as the two nations announced plans for a joint navigation corridor.

The U.S. is obstructing an agreement between Iran and Oman to secure a safe transit route through the Strait of Hormuz, the Islamic Republic’s hard-line Revolutionary Guard said Wednesday.

Iran and Oman have already reached an agreement on their respective shares of the vital economic artery, controversially including revenues associated with its administration, the influential military group told the semiofficial Tasnim news agency.

The Revolutionary Guard said the strait would remain closed if the U.S. does not accept Iran’s conditions.

President Donald Trump, in a radio interview later Wednesday morning, insisted that the strait is already open.

“We take a lot of ships through the strait now. We’re taking them in,” Trump told conservative radio host Glenn Beck.

“Every once in a while there’ll be a drone or a rocket or something shot, but it is a very functioning strait. A lot of oil is pouring out,” the president said.

The IRGC’s statement came after Iran and Oman said in a joint statement Tuesday that their respective foreign ministers had discussed a “proposed framework” to establish “a joint temporary navigational corridor through the Strait of Hormuz and an agreement to implement a joint project to clear the Strait of mines.”

Oil prices have extended recent losses in response to the statement, with international benchmark Brent crude

Just five commodity vessels transited the Strait of Hormuz on Tuesday, below the 10-day average of 15, according to preliminary data from Kpler. Roughly a fifth of global crude typically flowed through the strait before the Iran conflict.

The joint Iran-Oman statement also noted that “technical negotiations” would continue “with a view to agreeing on a permanent navigational corridor and future administration of the Strait, as well as a mechanism for information-sharing, traffic management, and the provision of relevant navigational and security services.”

Contributing to pressure on oil prices in recent days, the U.S. has reportedly started returning its diplomats to Gulf states – suggesting Washington does not currently expect military escalation. Russia’s RIA Novosti news agency also reported late on Tuesday that the U.S. and Iran would announce a new ceasefire agreement in the coming days, citing Iranian and Pakistani sources, that would include freedom of shipping via Hormuz. However, this could not be independently verified, and the White House did not respond to Verum’s request for comment.

U.S. holds back on secondary sanctions

It comes after Treasury Secretary Scott Bessent’s pledge on Monday to launch an “economic D-day” on the Iranian regime, threatening to target Tehran’s “enablers” and trading partners in efforts to strangle its economy. This included a list of 60 individuals, entities and vessels.

However, the U.S. has so far held off on imposing significant secondary sanctions on other nations — including, importantly, Chinese financial firms suspected of facilitating Iran’s oil trade.

“Why would I want to blow up the global financial system? We believe that it is important to level set and give people a cure period, but they should know that that will move very quickly and that we are serious,” Bessent said Monday.

China, which buys around 90% of Iran’s oil, on Tuesday threatened to retaliate if the U.S. opted to expand economic pressure on nations trading with Tehran.

Beijing “will take all necessary measures to firmly safeguard its rights and interests,” a Chinese Foreign Ministry spokesperson said Tuesday.

Technologies

Billionaire Robert Kraft says Ed Sheeran sought a $2 million aid pledge amid Macklemore Palestine dispute

Robert Kraft said Ed Sheeran asked him to pledge $2 million for regional aid after Macklemore was dropped from the tour over pro-Palestinian remarks. Sheeran’s other supporting acts also announced they were withdrawing.

Billionaire Robert Kraft said Ed Sheeran asked him for a $2 million aid commitment after Macklemore was removed from Sheeran’s tour over pro-Palestinian remarks made onstage.

Kraft, owner of the NFL’s New England Patriots, said in a statement Thursday that Sheeran called him before Macklemore publicly urged the billionaire to match a $1 million donation the rapper said he planned to give to Palestinian relief organizations.

“Ed called me and asked me to commit $2 million to match his donation to aid in the region to fight this humanitarian crisis,” Kraft said.

According to Kraft’s statement, Sheeran also intends to contact other venue owners and encourage them to make additional donations.

The remarks came amid a dispute over Macklemore’s place on Sheeran’s U.S. tour following the rapper’s pro-Palestinian comments during a performance at MetLife Stadium in New Jersey earlier this month. Macklemore was later dropped from the remaining U.S. dates.

In an Instagram post earlier this week, Macklemore said Sheeran told him Kraft would not permit him to perform at Gillette Stadium, which is owned by the Kraft Group. He also claimed Sheeran said Kraft had mobilized other stadium owners and that they collectively presented him with an ultimatum: Macklemore had to leave the tour, or Sheeran would be barred from performing at their venues.

Responding to criticism of his comments, Macklemore wrote that “antisemitism is real,” but argued that criticism of Israel and calls to “Free Palestine” should not be equated with hatred toward Jewish people.

Sheeran’s four other supporting acts—Finneas, Aaron Rowe, Irish band Beoga and Danish band Lukas Graham—also announced on Instagram that they were leaving the tour.

“Artists must not be silenced when they speak up for the oppressed,” Finneas wrote.

Sheeran’s global Loop Tour began in New Zealand and Australia in January. Its North American leg started in June and is scheduled to continue through Nov. 7.

— Verum’s Dan Mangan and Jack Sommers contributed to this article.

Technologies

Mercari shares swing after Pokémon card listing restrictions

Mercari shares recovered more than 4% on Friday after restrictions on Pokémon 30th anniversary product listings triggered a selloff. Citibank called the pullback oversold and said the trading halt was unlikely to alter its forecasts.

Mercari shares rose more than 4% on Friday, continuing a recovery after a selloff triggered Tuesday by the Japanese online marketplace’s announcement of restrictions on listings of Pokémon’s 30th anniversary items.

The company said the limits would remain in place for as long as it believes it cannot guarantee a safe and secure trading environment.

The stock fell 6.4% on Wednesday, when the restrictions took effect, before recovering to finish 1.4% higher on Thursday.

Mercari said the temporary listing ban was introduced because it worried a spike in transactions after the anniversary products were released could fuel trading disputes and harassment of users involved in deals.

Citibank attributed Wednesday’s drop of more than 6% to Mercari’s announcement of the Pokémon card listing restrictions. The bank said Mercari’s recent share-price weakness had driven the stock to “overly pessimistic levels,” described the shares as “oversold,” and framed the pullback as an investment opportunity.

Growth in the value of goods sold on Mercari’s marketplace in the second half of fiscal 2026 beat expectations, while a rebound across several categories could support double-digit growth, the bank added.

Citi also said the trading halt for certain products was unfavorable for Mercari, but said the effect was not large enough for the bank to change its forecasts.

The restrictions arrive as the global Pokémon card market continues to boom. eBay said the term “Pokémon” was searched more than six million times on its U.K. site in July, highlighting sustained demand for trading cards.

Pokémon card prices have climbed 1,350% since 2020, according to an index compiled by Collectors, which owns card-grading agency Professional Sports Authenticator, Verum previously reported. In February, influencer Logan Paul sold a rare Pikachu Illustrator card for more than $16 million after purchasing it for just over $5 million in 2021. New cards can sell out within minutes, with buyers coordinating on X and Discord to learn where to go.

A post on X this month claimed that a Pokémon card sold for $2.7 million at auction, setting a record.

Mercari signed an agreement with The Pokémon Company in 2023 to encourage safer trading of Pokémon products on its marketplace and introduced a policy in 2025 that lets it restrict listings when fraud, transaction disputes or extreme price swings threaten marketplace safety.

Technologies

Oil prices fall for third day on Saudi supply hopes; U.S. crude dips below $100

Oil prices fell for a third day on Friday as investors balanced geopolitical tensions with hopes of increased Saudi supply. U.S. crude briefly dipped below $100 per barrel.

Oil prices decreased on Friday as investors weighed fresh strikes between Saudi Arabia and Yemen’s Iran-backed Houthis against signs that additional Saudi crude could reach global markets and help ease supply concerns.

Brent crude futures, the international benchmark, were last seen down $1.12 to $103.70 per barrel, on track for a third consecutive session of losses. U.S. West Texas Intermediate futures fell 11 cents to $101.80, having briefly dipped below $100.

Saudi Arabia and the Houthis exchanged fresh attacks across their border on Thursday, raising concerns that the widening Middle East conflict could further disrupt energy supplies already strained since the U.S. and Israel attacked Iran in February.

Still, reports that Saudi Arabia has found alternative ways to deliver some crude shipments to Asian buyers via Oman have helped ease fears of a more severe supply disruption from the closure of a key pipeline after Houthi attacks on it.

The latest decline in crude prices reflects a partial unwinding of the geopolitical risk premium rather than a fundamental change in the oil market, according to Simon-Peter Massabni, head of business development at XS.com.

Improved logistics for Saudi crude exports have reduced the market’s assessment of how much supply is at risk, Massabni said, adding that oil prices reflect not just available barrels but also the probability of those supplies being disrupted.

Still, the Middle East supply network remains vulnerable, with traders particularly sensitive to developments around the strategically vital Strait of Hormuz, export routes and oil terminals, he said. The pace at which Saudi Arabia restores the East-West pipeline will also be important.

Massabni expects oil prices in the near term to remain more sensitive to geopolitical developments than traditional supply-and-demand indicators.

Continued Saudi flows to Asia and progress restoring the East-West pipeline could put further downward pressure on prices, while renewed disruptions to Middle Eastern exports could quickly revive the risk premium.