The United States anticipates an imminent agreement between Iran and Oman that would reopen the Strait of Hormuz to commercial shipping, marking a potential turning point in the ongoing disruption of global energy flows.
Reports indicate that a formal announcement could be made as early as Wednesday, following intensified diplomatic efforts to secure the vital waterway.
This development comes as US Treasury Secretary Scott Bessent indicated that Washington is on the verge of finalizing the interim arrangement.
The proposed deal aims to temporarily restore the flow of crude oil and liquefied natural gas through the strait, which has been a focal point of geopolitical tension and shipping risk.
The prospect of reopening the route has already begun to influence market sentiment, with traders assessing the likelihood of a sustained reduction in transit premiums.
In a parallel move, Sunni Arab powers are uniting to form a new defence pact, signaling a broader strategic realignment in the region.