Iran and Oman draft waterway deal while Trump rejects Tehran's control and transit fees
Tehran and Muscat are drafting an agreement to reopen the waterway via shared routes and service fees. However, implementation hinges on Washington lifting its blockade, with President Trump rejecting Iranian control or any shipping tolls.
A senior US official has expressed hope that a deal to restore shipping through the Strait of Hormuz could be reached as soon as today or tomorrow. This has led to a decrease in oil prices due to optimism for increased shipments in the vital waterway.
The Strait of Hormuz is a key conduit for global oil and gas supplies and has been at the centre of repeated fighting despite ceasefire and diplomatic efforts. According to US Treasury Secretary, there is a chance a deal may be reached in the coming hours.
The situation remains fragile, with one crew member listed missing on a merchant ship hit by a projectile in Hormuz, with fire erupting in the accommodation area.
Brief written by urgent.news from France 24, Channel News Asia, Free Malaysia Today, Al-Monitor — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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