Iran war halts Hormuz traffic? Tehran announces Oman deal.
Part of composite article Oil Nears $100 as Iran Blockade, Gulf Attacks, and Fuel Shortages Rock Global Markets View full article →
Traffic through the Strait of Hormuz is grinding to a near standstill as the Iran war intensifies. In response, Tehran says it is finalizing an agreement with Oman to open a temporary, safe passage through the strategic waterway.
The strait is a critical chokepoint for global oil shipments. A deal with Oman would offer an alternative route for vessels amid rising military tensions. Officials in Tehran have not yet released specific terms or a timeline for the proposed corridor.
The move signals a rare diplomatic step during the conflict, potentially easing pressure on international shipping. Details remain limited, and it is unclear how Oman will enforce security along the temporary route.