Iran and Oman Reach Hormuz Framework as US Holds Back
Iran and Oman have reached a temporary framework for shipping through the Strait of Hormuz, under which vessels would enter on an Iranian-controlled route and leave on an Omani one, according to reports. The United States has yet to endorse it, saying it will only back a deal that involves no transit fees and no impediment to shipping. President Trump said the war could end “pretty soon” and a deal “could be inked soon”, though Iran stressed the arrangement was not a full reopening of the strait.
The framework, if it holds, would be the first concrete step towards easing a standoff that has kept the world’s most important oil chokepoint shut and rattled global markets for weeks. Yet it fell short of a signed US–Iran agreement, and the two remained at odds over the crucial questions of control and tolls, with Tehran’s negotiator mocking Mr Trump’s “repeated U-turns”. Oil steadied around $82 a barrel as traders weighed the prospect of the strait reopening against the many false dawns of recent days. American officials spoke of a deal within days. Watch whether Washington signs on, or the framework unravels over the details.