Iran is portraying negotiations over shipping arrangements in the Strait of Hormuz as bilateral talks with Oman rather than direct engagement with the United States, according to the Institute for the Study of War (ISW). This diplomatic strategy appears aimed at maintaining leverage without appearing to concede to Washington amid ongoing US-Iran conflict. The Strait of Hormuz, a critical chokepoint for global oil traffic, is the subject of advanced discussions between Iran and Oman. Market pricing suggests a 16.5% probability of Strait of Hormuz traffic normalization by August 31, while the likelihood of direct US-Iran talks is estimated at 55.5% for the same deadline.
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