Iran said it had reached an agreement with Oman on a proposed temporary shipping route through the Strait of Hormuz, the critical waterway for global energy supplies. A joint statement from Tehran and Muscat is in the final drafting stage, Iranian Foreign Ministry spokesman Esmail Baghaei told reporters. The temporary route would remain active for two to four months with traffic passing through Iran’s territorial waters, but Iranian state television noted this does not mean a full reopening of the strait. The strait has become the focal point of the ongoing war between the US and Iran, which began six months ago. Oil fell on the news, with Brent trading near $79 a barrel and WTI around $75.
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