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Iran and Oman still working on Hormuz accord: reports
Negotiators from Iran and Oman continue to work on striking an agreement on the use of the Strait of Hormuz, an Iranian source says.
GlobeSignal-AIlow certainty
- Why it matters
- The Strait of Hormuz carries roughly one-third of global seaborne oil; any accord affecting its use or stability could alter shipping costs and energy market conditions.
- Most affected
- Oil importers and shipping companies — Shipping costs and energy prices could shift with changes to Hormuz access or terms.
- Likely next
- Whether Iran and Oman announce agreement terms, or whether negotiations stall or conclude without accord.
Also reported by: Cyprus Mail
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