Iran and Oman have established a joint committee to discuss the future governance of the Strait of Hormuz, marking the first such bilateral engagement since Tehran and Washington signed a preliminary agreement to end hostilities in the Middle East.
The talks, held in Muscat, represent a tangible step toward normalizing maritime security in one of the world’s most critical energy chokepoints.
The development comes as markets digest the implications of the broader diplomatic thaw.
While the committee’s mandate focuses on management and governance, its creation suggests a coordinated effort to reduce the risk of disruption in the strait, through which roughly a fifth of global oil consumption passes.
For traders, the move offers a counterweight to lingering geopolitical anxieties that have kept a risk premium on Brent crude.
This diplomatic initiative follows a period of heightened tension, including recent reports that Iran ruled out immediate talks with the US this week.