Hormuz shipping plan advances as wider reopening terms remain unresolved

Iran says talks with Oman on new shipping arrangements through the Strait of Hormuz are nearing completion, although the wider conditions for reopening the waterway remain unsettled.

According to Iran’s foreign ministry, the two sides have agreed a map for shipping routes and are still working through technical points in a joint statement. Their discussions have also covered safe navigation, environmental protection, maritime services and measures against crime.

The strait has been effectively blocked since late February. Before the conflict, about one fifth of global oil and liquefied natural gas passed through the channel, making any change to vessel access important for energy markets and operators across the Gulf.

Tehran says reopening also depends on US actions, including compensation, sanctions relief and an end to military threats. Oil prices edged higher on Monday as expectations of a quick agreement weakened.