Tehran, Muscat, and Washington near deal to reopen Strait of Hormuz

Three capitals are inching toward an agreement that could uncork the world’s most important oil chokepoint. Iran, Oman, and the United States have been negotiating a framework to reopen the Strait of Hormuz, which has been effectively closed since late February 2026, sending Brent crude past $100 per barrel and rattling energy markets worldwide. Iranian and Omani officials say draft terms covering shipping routes and geographical coordinates are nearing finalization. But Iran is holding a very large card: it insists the strait stays shut unless Washington meets its conditions, including ending the US naval blockade and engaging on war-related demands. What the deal actually looks like Rather than flipping the strait back to a fully open navigation regime, the proposed framework would create a temporary corridor with a novel power-sharing arrangement. Iran would oversee inbound traffic while Oman manages outbound lanes. Reports suggest the initial reopening period would last 60 days. The Strait of Hormuz typically carries about 20% of the world’s oil trade, passing through a narrow waterway just 21 miles wide at its tightest point. President Trump has publicly expressed optimism abo...