Iran and Oman are actively negotiating a plan to reopen the Strait of Hormuz to commercial shipping, according to reports from The Hindu.
The proposed arrangement is explicitly contingent on the United States lifting its current blockade of the waterway, marking a potential diplomatic breakthrough in the ongoing regional standoff.
The development follows weeks of heightened tension that have disrupted global energy flows and pushed freight rates to elevated levels.
While the prospect of a reopened corridor has already begun to ease supply fears—evidenced by oil prices sliding for a third consecutive day—the conditional nature of the deal means traders remain cautious about immediate normalization of trade routes.
Previous reports indicated that Tehran and Muscat were jointly developing a new central "corridor" through the strait, designed to serve mutual security interests.
This latest negotiation appears to be a step toward formalizing that framework, potentially allowing for a phased return of tanker traffic under monitored conditions.