Iran Establishes New Agency to Oversee Strait of Hormuz Shipping Amid Peace Deal Review (pbs.org)

• Exchange of fire on Qeshm Island reported.
• New Iranian agency to oversee Strait of Hormuz shipping.
• Peace deal with US under review.

"On May 7, 2026, Iranian state media reported an exchange of fire with 'the enemy' on Qeshm Island in the Strait of Hormuz. The same day, Iran announced a new agency to control shipping in the Strait, while reviewing a peace deal with the US. The events highlight ongoing regional tensions and the strategic importance of the Strait for global oil shipments."