Strait of Hormuz Deal: Oman's Proposed Route Raises More Questions Than Answers The Iranian government has announced that it is close to reaching an agreement with Oman on a route for shipping through the Strait of Hormuz, a crucial waterway for global oil supplies.
This development comes as the US and Iran have been engaged in a protracted standoff over the strait's security.
The proposed deal has sent shockwaves through the energy markets, with Brent crude prices edging lower on Thursday following reports of the agreement.