Iran Is Expected to Hand the US Its Reply Today. The IRGC Says the Strait Can Be Safe. Oil Plunged 11%. The Deal Might Actually Be Happening.

WASHINGTON / MUSCAT, May 7, 2026 — Iran is expected to deliver its formal written reply to the U.S. peace proposal to mediators Thursday — the same day its navy said safe passage through the Strait of Hormuz is possible…









