Iran and Oman have announced an agreement in principle on shipping lanes through the strategically significant Strait of Hormuz. This agreement is part of ongoing negotiations aimed at ensuring safe passage for commercial vessels amid the broader US-Iran maritime conflict. Discussions focus on route control and potential service fees, reflecting a diplomatic rather than military approach. Markets are pricing in a 37% probability of a US-Iran agreement by August 15, down from 64% the previous day, while the probability stands at 59.5% for a resolution by August 31.
Source: Read the original article
