Talks between Oman and Iran aimed at establishing a commercial shipping corridor through the Strait of Hormuz are reportedly advancing, according to U.S. officials cited by The Wall Street Journal. Oman is acting as a mediator amid heightened geopolitical tensions between Iran and the United States. The strait represents a vital chokepoint for global oil and LNG trade. Markets reflect this optimism, with a 60.5% probability for a final agreement by September 30 and 29% by August 31. Observers are closely monitoring statements from Iran’s Foreign Minister Abbas Araghchi and Omani leadership for signs of a breakthrough or setback.
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