Iran finalizing Oman agreement Monday, Hormuz Strait to remain open under conditions

Iranian state media reported a commercial vessel was struck in the Strait of Hormuz on Saturday, resulting in one death and four injuries, as tensions escalate between the US and Iran over control of the strategic waterway. This incident occurred near Qeshm Island, just before Iran was set to meet regional leaders in Oman to discuss managing shipping traffic.

Iran's Qeshm governor blamed a "terrorist enemy" for the attack, while the US has not commented on the matter. Qeshm Island, located 14 miles from Bandar Abbas, plays a crucial role in controlling traffic through the Strait of Hormuz, where approximately 20 million barrels of oil typically pass daily. Meanwhile, another vessel was hit by an unknown projectile in the strait, causing a fire and prompting evacuation efforts, though the vessel's origins remain unknown.

Gulf Arab states are expected to meet with Iran's foreign minister in Oman on Monday to address maritime traffic management, though Bahrain declined to attend. Iran has been engaged in negotiations with Oman over a deal to govern shipping through the strait, but progress remains uncertain. Iran's President Masoud Pezeshkian demanded the US end its blockade as a precondition for opening the waterway.

In Yemen, Iran-backed Houthi rebels claimed responsibility for an attack on a Saudi military base, using ballistic missiles and drones, and have expanded their control near the Red Sea waterway linked to Asia and Europe. Saudi Arabia temporarily closed its East-West pipeline following a drone attack, citing a perceived threat from Iranian-backed militias operating in Iraq.