US, Iran, Oman Near Hormuz Reopening Deal

Washington, Tehran and Muscat are on the verge of finalising a short‑term agreement that would restore commercial traffic through the Strait of Hormuz, the narrow waterway that carries roughly a fifth of the world’s petroleum shipments. Negotiators from the United States and Iran, with Oman acting as a mediator, have been exchanging proposals for several weeks after a series of maritime incidents raised concerns about the safety of vessels transiting the strategic passage. The tentative pact, expected to be signed within days, would establish a temporary framework for the safe passage of merchant ships while broader diplomatic issues remain unresolved.

The arrangement is designed to curb disruptions to global oil markets and to provide a predictable environment for shipping companies operating in the region. Under the draft terms, both sides would commit to refraining from hostile actions against commercial traffic and to notifying each other of any security incidents that could affect navigation. Oman’s role includes monitoring compliance and facilitating communication between the parties. If implemented, the deal would lift the current restrictions that have forced many carriers to reroute around the Arabian Peninsula, reducing transit times and costs while easing pressure on oil prices.