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Iran-Oman Deal Could Restart Persian Gulf Shipping After Months of Disruption

Iran and Oman are negotiating a 60-day reopening framework to end a standoff that has crippled traffic through the Strait of Hormuz. Only eight vessels crossed on August 5, down sharply from more than 100 daily transits before the conflict erupted. The proposed agreement would establish separate inbound and outbound routes, with Iran-side passage for arriving ships and Oman-side corridors for departures. No transit fees would apply under the framework, which could include regional demining cooperation. The disruption has squeezed global crude oil supplies, with roughly 20% of world shipments normally flowing through the waterway. Shipping confidence remains fragile following recent incidents, including a tanker strike and an LNG carrier hit by projectiles. A formal announcement could release waiting vessels, though industry observers say sustained incident-free transits and credible security measures will be necessary before normal cargo flows resume.