The Iranian army declared that ships approaching the Strait of Hormuz are under surveillance hundreds of kilometers out and require permission to pass. This statement confirms Iran’s control over this strategic maritime passage, crucial for global oil shipments. Tensions between Iran and the United States over control of the strait are intensifying, affecting ongoing negotiations with Oman on shipping routes. Markets reflect a decreased likelihood of a finalized Iran-Oman agreement by August 31, while expectations for a September 30 agreement remain more optimistic.
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