Iran has indicated that a diplomatic understanding with Oman regarding the Strait of Hormuz is within reach, provided the United States ceases its interference in the negotiations.
The development, reported by Iranian media and picked up by international outlets, marks a significant shift in the diplomatic posture surrounding the world's most critical oil transit chokepoint.
The conditional nature of the agreement introduces complexity for market participants monitoring shipping risk.
While the prospect of a bilateral deal between Iran and Oman suggests a pathway to stabilizing passage through the strait, the explicit requirement for US disengagement raises questions about the durability and scope of any resulting arrangement.
Traders are likely to assess whether this represents a genuine de-escalation or a tactical maneuver in the broader geopolitical standoff.
This development follows earlier reports that the US, Iran, and Oman were nearing an interim deal to reopen the Strait of Hormuz.