Iran and Oman are working toward an agreement on the Strait of Hormuz to restart peace talks between Tehran and Washington, according to the Wall Street Journal. These discussions focus on navigation governance and maritime services around this strategic oil transit chokepoint. Oman is acting as a facilitator in this regional diplomatic approach aimed at replacing conflict-related disruptions with a gradual reopening of the strait. Prediction markets now estimate a 3.6% probability for a diplomatic meeting before July 31, 2026, compared to 53.5% for a meeting before August 31, 2026.
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