A proposed deal between Iran and Oman would give Tehran control over ships entering the Gulf through the Strait of Hormuz, Reuters sources say, even as Iran's Foreign Ministry says a related understanding on the shipping route would not by itself secure the waterway. Oil prices slipped Wednesday after a Houthi attack on a tanker in the Red Sea added a fresh disruption to Middle East shipping.
A proposed deal between Iran and Oman would give Tehran control over ships entering the Gulf through the Strait of Hormuz, a senior Iranian source and two regional officials told Reuters, calling it one of the biggest concessions yet to Iran. The sources pushed back, though, against President Donald Trump's public assertions that a deal reopening the strait was imminent, saying key details remain unresolved.
Iran is seeking fees of between 5% and 7% of the price of cargoes that use the strait, according to the senior Iranian source. Oman is discussing smaller fees of about 3%, while Washington wants no fees imposed at all.
Baghaei: talks professional, security not guaranteed
Iran's Foreign Ministry spokesperson Esmaeil Baghaei described the negotiations with Muscat as professional and moving forward, saying the two sides had reached a mutual understanding on the geographical parameters of the route under discussion. A joint statement covering the key points of that understanding is in the final stages of review and drafting, he added, provided third parties do not interfere. Baghaei cautioned, however, that such an agreement would not, by itself, guarantee security in the strategic waterway.
According to a regional source cited by Reuters: "The concession has already been made regarding some form of control over Hormuz."
Talks continue, but Iran source says deal not final
Trump has said the talks are moving along and that an all-day negotiation took place on Tuesday, predicting the strait would reopen very soon. A senior Iranian source cautioned, however, that talks were continuing but it was too early to call a deal with Oman finalized.
Oil slips as Red Sea attack tests fragile calm
Crude prices have also dropped over the past two days after Trump called off fresh strikes on Iran, citing the talks he said could end the conflict. Oil prices edged lower again on Wednesday after briefly rising when Iran-aligned Houthi forces in Yemen said they had fired on a Saudi-flagged tanker in the Red Sea, the latest attack to disrupt Middle East shipping.
Sources: Commodities & Futures News, Commodities & Futures News
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