Iran and Oman Advance Talks on Strait of Hormuz Shipping Safety
Iran said on Sunday it had made progress in discussions with Oman on mechanisms for safe passage through the Strait of Hormuz, noting vessel traffic remains unchanged.
Iran announced that negotiations with Oman have advanced regarding protocols to secure maritime transit in the strategic Strait of Hormuz. The Islamic Republic emphasized that there has been no disruption to shipping activity through the waterway.
The strait is a critical chokepoint for global oil shipments, with about a fifth of the world's petroleum passing through it. Any progress in de-escalating tensions could reduce the geopolitical risk premium in energy markets.
Source: First Squawk