Iran and Oman Close to Shipping Deal for Strait of Hormuz

Iran and Oman are reportedly nearing an agreement on new commercial shipping arrangements for the Strait of Hormuz. The potential deal could establish a single route through Iran's territorial waters for 2-4 months or reopen the Strait for 60 days, replacing temporary routes. The US is reportedly prepared to accept this interim deal, which has significant implications for global oil, gas, and international commerce.