Iran and Oman are nearing an agreement on new commercial shipping arrangements through the Strait of Hormuz, potentially impacting global oil supply.

The proposed agreement would replace existing temporary routes with a new single route passing through Iranian territorial waters for two to four months. This development is significant for global logistics and energy markets, with oil prices already reacting to the news. Discussions are also reportedly ongoing, though denied by Iran, with the U.S. regarding the lifting of a naval blockade on Iranian ports.