Iran Nears Agreement with Oman to Reopen Strait of Hormoz

Iran says it has reached a final‑stage agreement with Oman on a route for shipping through the Strait of Hormoz. Foreign ministry spokesman Esmaeil Baqaei said the coordinates of the route have been agreed with Oman but did not disclose further details.

The spokesman warned that a deal with Oman would not guarantee safe navigation because the United States continues its naval blockade of Iranian ports and other aggressive actions against Iranian interests.

Since the 28 February attack that triggered the conflict, the Strait, which carries roughly a fifth of the world’s oil and liquefied natural gas, has been largely blocked by Iran, leading to steep volatility in energy markets.

U.S. President Donald Trump warned that Iran would be hit very hard if the strait did not open very soon. The comment comes after U.S. officials said talks had progressed enough to allow shipments to resume later in the week, while Iran maintains it is not negotiating with Washington.

The proposed deal would keep the route open for a temporary period of two to four months, according to Iran’s deputy foreign minister. It would also give Tehran oversight of ships entering the Gulf through the strait, while Oman discusses fees around 3% and Washington seeks no fees at all.

Oil prices edged lower on Thursday, with Brent crude trading at $79.24, a 0.3% drop in early Asian trade. Energy markets have fluctuated wildly during the conflict as ships are delayed or rerouted.

The U.S. has maintained a naval blockade of Iranian ports and a separate blockade of Saudi ports in the Red Sea, imposed by Yemen’s Iran‑backed Houthis since 20 July. The conflict saw wide‑ranging strikes on Iran on 28 February, triggering retaliatory attacks from Iran and an effective closure of the strait.