Oman and Iran have proposed the establishment of a temporary shipping route along with a mine clearance plan in the Strait of Hormuz, according to a statement by Oman’s foreign ministry. This development comes amid ongoing tensions in this critical maritime passage, affected by the recent Iran-U.S. conflict. The strait remains partially restricted due to mines and security concerns. Prediction markets show growing optimism, with a 34.5% probability of a finalized agreement by August 31, up from 16% the previous day, and 57% by September.
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