Iran Oman Near Deal to Govern Hormuz Strait

Iran and Oman are close to finalizing a joint arrangement to oversee the Strait of Hormux, a waterway that carries a sizable share of the world’s oil shipments.

Negotiations Edge Toward Completion

Iranian foreign ministry spokesman Esmaeil Baghaei told reporters the agreement is “in the final stages,” according to a recent statement. The same source indicated that talks are “forward‑moving,” and that the deal could be sealed unless “certain third parties do not obstruct this process.” The phrasing suggests a possible hurdle from the United States, which has previously signaled opposition to any Iranian control of the strait.

Bloomberg cited the minister’s remarks, noting that the United States had not formally objected to Iran managing vessel traffic entering the waterway. If that stance holds, it would represent a notable shift in U.S. policy, given longstanding concerns about Iranian influence over a critical chokepoint.

Meanwhile, Brent crude slipped below $80 per barrel, trading at $79.12, while West Texas Intermediate settled at $74.79, down 0.57%.

The price movement reflects market uncertainty as the diplomatic outlook evolves.

Details of the Proposed Arrangement

According to reports, the draft deal would grant Iran authority over both inbound and outbound vessel traffic in the strait. A Reuters account mentioned that earlier discussions had focused on Iran controlling only incoming traffic, a point the United States reportedly did not contest. The expansion to cover outbound vessels marks a broader concession, potentially reshaping how regional security is managed.

Baghaei hinted at a willingness to proceed, provided that no “third parties” intervene.

President Trump warned of “more violence” if a deal is not reached, while also asserting that “we’re having very good discussions.” The president’s statements have been dismissed by Tehran, which denies any ongoing peace talks with the United States.

Iranian officials warned that a direct U.S. strike on Iranian infrastructure would trigger retaliation against Gulf energy facilities and other regional targets, a threat relayed by a Gulf source to Reuters.

Oil markets have been sensitive to these diplomatic signals.

Traders are weighing the potential impact of a joint management scheme against the risk of heightened tensions.

Analysts note that a cooperative framework could lower the probability of accidental clashes, but the underlying political rivalry may still create uncertainty. The arrangement’s success will likely depend on how the United States chooses to respond to the proposed Iranian role.

Next steps involve formal signing and implementation details.