Iran says deal with Oman to reopen Strait of Hormuz is near-finalised

Iran said on Thursday that an agreement with Oman to reopen shipping through the Strait of Hormuz was close to completion, the clearest public sign yet of progress on one of the most sensitive maritime chokepoints in global energy trade. Iranian officials said the route coordinates had already been agreed with Muscat and that drafting was in its final stage. The update came as Yemen’s Iran-aligned Houthis claimed attacks on Saudi oil tankers, underscoring that security risks for regional shipping remain active even as diplomacy moves ahead. President Donald Trump said this week that the waterway could reopen soon, while oil prices eased as traders weighed the prospects of a deal. ### What exactly did Iran say was nearly done? Iranian officials said on August 6 that a framework with Oman for shipping lanes through the Strait of Hormuz was in the final stage of drafting. Tehran said the geographical coordinates for the route had been agreed with Oman, according to reports from AP, Bloomberg and CNN. (apnews.com) CNN reported that Iran’s position was not that the strait would reopen automatically once the text was completed. Iranian officials said U.S. commitments would also have to be met before traffic fully resumed, making the Oman arrangement one part of a broader process rather than a standalone settlement. (apnews.com) ### Why is Oman involved in the negotiations? Oman sits on the southern side of the Strait of Hormuz and has long acted as a mediator in regional disputes. AP reported that the proposed arrangement involves shipping routes through the waterway, while Bloomberg described the understanding as agreed in principle and still awaiting finalisation. (cnn.com) Al Jazeera reported on August 5 that Tehran had approved route coordinates with Oman, and on August 6 said the deal was on the verge of being finalised. That reporting points to Muscat’s role as both a littoral state and an intermediary acceptable to multiple parties in the crisis. (apnews.com) ### What happened with the Houthi tanker claim? The Houthis said on Wednesday, August 5, that they had launched missile attacks on Saudi oil tankers near Yanbu in the Red Sea and in the Gulf of Aden. Reuters, as carried by U.S. News, reported there was no immediate confirmation from Saudi Arabia. (aljazeera.com) CNN’s live coverage and other reports placed the Houthi claim alongside the new Hormuz diplomacy, highlighting that risks to shipping extend beyond the strait itself. Even if a Hormuz arrangement is completed, attacks in the Red Sea or Gulf of Aden could continue to disrupt tanker traffic and insurance costs. That assessment is an inference from the geography of the reported incidents and the separate channels of conflict. (usnews.com) ### What have Trump and markets said about the talks? Trump told reporters this week that an announcement on the Strait of Hormuz could come soon, according to CBS and CNN live coverage. CNBC reported that his comments helped push oil prices lower and lifted stocks as investors anticipated a breakthrough in the five-month war. (cnn.com) The Hindu reported that Brent crude fell to about $79.08 a barrel and U.S. West Texas Intermediate to about $74.69 as investors assessed whether progress in Iran-Oman talks could help reopen the waterway. Those price moves reflected market reaction to the possibility of restored shipping rather than confirmation that the route had reopened. (cbsnews.com) ### What still has to happen before ships move normally again? Iran said on August 6 that the draft with Oman was close, but CNN and Al-Monitor both reported that reopening still depended on wider commitments involving the United States. That means the near-final text is not yet the final operational step for commercial traffic. (thehindu.com) The next concrete milestone is the publication or announcement of a final Iran-Oman arrangement on route management and transit terms. Trump said an announcement could come within days, while Iranian officials have tied any actual reopening to follow-through on U.S. commitments. (cbsnews.com) (cnn.com)