Oman has secured backing from fellow Gulf states for its proposal to establish a temporary maritime corridor through the Strait of Hormuz, marking a significant diplomatic advance in efforts to de-escalate tensions in the critical waterway.
The initiative, which aims to create a structured framework for safe passage, represents a shift from the recent hardline posturing that has characterized regional discourse.
By rallying support from neighbors, Muscat is positioning itself as the central mediator in a dispute that has long threatened global energy supplies.
The development comes as markets remain sensitive to any disruption in the Strait, which handles roughly a fifth of the world's oil consumption.
While the proposal does not yet guarantee a resolution, the unified stance of the Gulf Cooperation Council (GCC) members adds weight to Oman's diplomatic efforts.
Investors are watching to see if this regional consensus can translate into tangible security guarantees for commercial shipping, potentially lowering the risk premium embedded in energy and freight prices.