Iran and Oman close to Hormuz shipping deal amid Trump pressure and oil concerns

06 August, 2026, 04:05 pm

Last modified: 06 August, 2026, 04:06 pm

Iran and Oman close to Hormuz shipping deal amid Trump pressure and oil concerns

06 August, 2026, 04:05 pm

Last modified: 06 August, 2026, 04:06 pm

Iran says it is in the final stages of an agreement with Oman to establish a temporary shipping route through the Strait of Hormuz, one of the world's most important energy corridors. The proposed deal includes negotiations over transit fees, security concerns, and control of vessels entering the Gulf, while President Donald Trump has warned Iran to reopen the strait soon. Brent crude edged lower following the latest developments, but uncertainty continues as talks move forward.

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