Iran on Wednesday said it has reached an understanding with Oman on a proposed shipping route through the Strait of Hormuz, with a joint statement now in its final drafting stage. The development could pave the way for limited movement through one of the world's most strategically important energy corridors, though Tehran made it clear that a full reopening is not yet on the table.
Iranian Foreign Ministry spokesperson Esmail Baghaei said negotiations with Oman were progressing positively and an agreement would be finalised "if certain third parties do not obstruct this process".
Talks focus on temporary shipping arrangement
Iran and Oman have been holding discussions for several days on managing traffic through the Strait of Hormuz, which has become a key flashpoint during the ongoing conflict involving Iran, the United States and Israel.
Baghaei said the closure of the waterway resulted from attacks by the US and Israel but did not elaborate on Washington's role in the current negotiations.
Iranian Deputy Foreign Minister Kazem Gharibabadi later told state-run IRNA that both countries were negotiating a "temporary route" that could remain operational for two to four months.
“This understanding does not mean the full reopening of the Strait of Hormuz,” he said.
He added that a significant share of shipping traffic under the proposed arrangement would pass through Iran's territorial waters.
Oil markets react as uncertainty remains
The announcement came as oil prices extended recent losses, with investors weighing the possibility of energy shipments gradually resuming through the vital maritime route.
Despite the progress in talks, Iranian state television reported that any reopening of the Strait would still depend "on a change in US behavior."
Meanwhile, US President Donald Trump said discussions with Iran were advancing.
Speaking to reporters, Trump said talks were "moving along very nicely," adding, "We’ll know in 48 hours."
Wider tensions remain unresolved
The Strait of Hormuz has remained at the centre of tensions after months of conflict and disputes over shipping access. While hostilities have eased in recent weeks, broader issues, including Iran's nuclear programme and formal peace negotiations, remain unresolved.
US Vice President JD Vance suggested internal divisions within Iran were also affecting negotiations.
“They have a fractured system, so there are people within their system who want the war to be over. There are also people within their system who are crazy radicals who want the war to continue,” Vance said.
Separately, Iranian President Masoud Pezeshkian described the country's situation as its "most difficult time since the Islamic Revolution," underscoring the challenges facing Tehran even as negotiations over the Strait continue.