Iran and Oman are in active negotiations to restart commercial shipping through the Strait of Hormuz, through which approximately 20 million barrels of oil pass daily, representing about a fifth of global consumption. The talks focus on traffic management protocols and transit fees, with revenue directed toward local reconstruction efforts. Disruptions earlier in 2026 caused by escalating US-Iran hostilities spiked oil prices and weighed on Bitcoin and other risk assets. The cryptocurrency has since recovered from its losses as traders view diplomatic engagement as a signal that a prolonged total blockade is becoming less likely. A fragile ceasefire between the United States and Iran remains in effect.
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