US expects Iran-Oman deal soon to reopen Strait of Hormuz
The United States expects Iran and Oman to reach an agreement soon that could reopen the Strait of Hormuz to commercial shipping, a U.S. official said on Friday.
The official, who spoke on condition of anonymity, said progress had been made in negotiations between Tehran and Muscat and that an agreement on the strategic waterway was considered an important part of a broader peace arrangement.
"Once the deal is announced to restore commercial shipping without impediments, the United States will lift the blockade of Iranian ports," the official said.
The official added that U.S. measures would remain tied to Iran's implementation of its commitments.
Shipping through Hormuz remains sharply reduced
The Strait of Hormuz is one of the world's most important energy routes. Before the conflict, roughly one-fifth of global oil consumption passed through the waterway.
Shipping traffic has fallen sharply since the conflict began, as vessels remain reluctant to enter the strait because of security concerns and uncertainty over navigation arrangements.
According to Kpler data, only eight commercial vessels crossed the Strait of Hormuz on Thursday, compared with around 130 vessels a day before the conflict.
The disruption has contributed to higher energy prices and increased concerns over global inflation.
Bab el-Mandeb also affected
Shipping through the Bab el-Mandeb Strait, another major energy and trade route between the Red Sea and the Gulf of Aden, also remains well below normal levels.
Iran-backed Houthi forces have targeted shipping in the area, further disrupting maritime trade and adding to concerns over regional supply chains.
Kpler data showed 26 vessels crossed the Bab el-Mandeb on Thursday, compared with around 50 to 70 before recent attacks intensified.
Oil prices rise amid uncertainty
Oil prices moved sharply higher on Friday as traders assessed uncertainty surrounding the Strait of Hormuz and the Iran-Oman negotiations.
Brent crude rose to about $83.55 a barrel, while U.S. West Texas Intermediate reached around $78.18.
Markets remain focused on whether an agreement can restore safe passage through the strait and allow energy shipments to return to normal.
Iran signals willingness for regional dialogue
Iranian Deputy Foreign Minister Kazem Gharibabadi said on Friday that dialogue among Gulf countries could resume if peace and stability return to the region.
Speaking to Iran's official IRNA news agency, Gharibabadi said Gulf states increasingly understood that regional security should be ensured by countries in the region themselves.
He said Tehran had detected signs that neighboring governments were reassessing their security priorities following the conflict.
Gharibabadi also accused some Gulf countries of allowing U.S. forces to use their territory during the conflict, saying Iran had submitted evidence of such activity to the U.N. Security Council.
Iran says framework reached with Oman
An Iranian parliamentary official said a general framework of understanding had been reached with Oman over the Strait of Hormuz, but that final approval was still required.
It remains unclear whether the proposed arrangements will guarantee the unrestricted and safe passage of commercial vessels through the waterway.
The outcome of the Iran-Oman discussions is expected to be closely watched by shipping companies, energy markets and governments worldwide.
