Iran says Oman deal near completion, US must act to open Hormuz
Iran announced that negotiations with Oman are in their final stages, but called on the United States to take steps to reopen the Strait of Hormuz for shipping.
Iran's foreign ministry said on Tuesday that talks with Oman over a regional agreement are in their final stages, but added that the United States must act to reopen the Strait of Hormuz.
Oman has been acting as a mediator in discussions aimed at easing tensions that have periodically disrupted traffic through the strategic waterway.
The Strait of Hormuz, a narrow passage between the Persian Gulf and the Gulf of Oman, handles roughly a fifth of global oil shipments, making its accessibility critical for energy markets.
Tehran's statement emphasized that while progress with Oman is forthcoming, any lasting solution requires the United States to remove obstacles that keep the strait closed to commercial vessels.
Analysts note that a reopening of Hormuz could stabilize crude oil prices, which have been volatile amid regional security concerns.
The region has previously seen brief closures of the strait following diplomatic spats, prompting international calls for a durable framework to keep the passage open.
Iran indicated that a finalised Oman deal, coupled with US cooperation, would help restore normal shipping flows and reduce the risk of further market disruptions.
David reports on energy, metals and agricultural markets, tracking how supply signals and safe-haven demand move prices across the commodities complex.
More from David Chen →
