Oman-Iran Talks Near Hormuz Shipping Deal, US Official Says
A US official says negotiations between Oman and Iran are advancing and a deal that would restore commercial shipping in the Strait of Hormuz could be signed soon, Reuters and ABC News report.
Discussions between Oman and Iran on securing passage through the strategic Strait of Hormuz are making headway, according to a U.S. official cited by Reuters and ABC News. The talks aim to reach an agreement that would normalize commercial shipping.
If finalized, the deal would see the United States lift certain restrictions, the official indicated, paving the way for a return to unimpeded maritime trade in the region. A signing could happen in the near term.
The Strait of Hormuz is a critical chokepoint for global oil and goods shipments, and any agreement would ease geopolitical risk premiums that have periodically flared.
Source: FXStreet Forex News