Iran Nears Historic Hormuz Deal with Oman

Mon Sep 14 2026 10:52:40 GMT+0000 (Coordinated Universal Time)

Iran announces final‑stage agreement with Oman to open a new route through the Strait of Hormuz, sparking hopes that the key oil passage could reopen.

Foreign Ministry spokesman Esmaeil Baqaei said Iran has reached a deal with Oman to create a temporary shipping route across the Strait of Hormuz. The agreement, still in final stages, could keep the passage open for two to four months, though security concerns persist, notably the US naval blockade. The move follows a series of strikes that closed the strait in February, disrupting global oil and LNG flows. While the US and Oman have not commented, Iran proposes fees for transit that exceed those sought by the United States. Brent crude fell slightly after the announcement, reflecting market uncertainty over the conflict’s impact on energy supply.

Iran Nears Historic Hormuz Deal with Oman

Iran said it has reached an agreement with Oman for a new shipping route through the Strait of Hormuz, the waterway that carries a fifth of global oil and LNG. Foreign Ministry spokesman Esmaeil Baqaei confirmed negotiations were in final stages but did not disclose specifics.

Baqaei warned that the agreement would not automatically guarantee safe passage, citing the continuing U.S. naval blockade and a range of maritime security concerns. The U.S. and Oman have yet to comment on the proposal.

The strait has been a flashpoint since February, when U.S.-led strikes on Iranian territory triggered retaliatory attacks and effectively shut the channel to international shipping.

According to a Reuters report, the temporary route could remain open between two and four months—enough time for any transitional negotiations that might open the strait permanently. Iran also plans to impose fees on vessels transiting the passage, with higher rates than those the U.S. and Oman seek.

Oil markets have uneasily absorbed the conflict; Brent crude slipped 0.3% at $79.24 on Thursday’s Asian trading after the announcement of the possible reopening.

The situation remains fluid, the spokesperson added, reminding that talks would need to address security such as the U.S. blockade, that was a key obstacle to resuming normal maritime traffic.