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Iran says Oman Hormuz deal in final stages as Trump floats announcement this week

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World Desk

Energy markets context amid Hormuz disruption
Illustrative markets chart (site media) — oil/energy context for Hormuz disruption; not a Strait photo

What we know

Iranian Foreign Ministry spokesman Esmail Baghaei said Wednesday that an agreement with Oman over the Strait of Hormuz was in the “final stage” of drafting and that a joint statement would issue “if certain parties do not obstruct this process”—widely read as a reference to the United States. Two regional officials briefed on the talks told AP that Iranian and Omani negotiators had finalized a temporary draft awaiting Supreme Leader approval, with ships entering via an Iranian-controlled northern lane and exiting via an Oman-controlled southern lane, plus service fees Tehran wants and Washington rejects.

President Donald Trump, asked Tuesday evening about Axios reporting of an imminent announcement, said a reopen deal “could happen” the next day or the day after and that “a lot of progress has been made.” The Trump administration has ruled out any arrangement that cements Iranian grip or tolls on what Washington calls an international waterway; Tehran has tied a fuller reopen to ending the U.S. blockade of Iranian ports. Brent hovered near $80 as markets weighed reopen hopes against unresolved control and fee disputes.

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What's still developing

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