Iran Names Its Price for Reopening Hormuz

This column had Thursday's Hormuz story as a named route agreed with Oman. Overnight it turned again: Iran says a deal is close but wants concessions first, and the list, which the Drudge-linked New York Times piece reports and Al Jazeera confirms, is still awaiting Tehran's own high-level sign-off. That means Iran is negotiating price, not logistics. The SCMP's read this morning, that Tehran believes it has Trump cornered, matches that mechanism better than the relief-rally framing has allowed. Kai Tanner's water-utility piece is the column to sit with: a federal advisory in April told operators to pull exposed controllers offline, and the 12-state campaign that followed shows the warning changed nothing about exposure, a lesson that applies as directly to Hormuz confirmations as to industrial control systems. Elsewhere, an AI-related breach report puts the average incident at $6 million and breach frequency up 56%, the number a CISO now has to walk into a board budget conversation with. Amazon lifted 2026 AI capex to $220 billion, the spend a competing cloud procurement lead now has to match or explain. Todd Blanche was confirmed attorney general overnight, narrowly. Watch whether Tehran's high-level approval lands by Tuesday.