Overview
- Iran's and Oman's foreign ministries confirmed on Thursday that they have agreed on geographic coordinates for a temporary shipping corridor through the Strait of Hormuz, describing the text as a draft that still needs higher-level sign-off.
- President Donald Trump said no agreement has been reached, indicating the United States has not accepted the proposal and important U.S. approval remains outstanding.
- Iranian state media warned that the Iran‑Oman draft does not mean the strait will reopen immediately and that Tehran ties any reopening to a change in U.S. behavior and correction of what it calls U.S. violations.
- A coalition of eight maritime associations told the United Nations that permitting transit charges would undercut the long‑standing legal rule of transit passage for international straits and would raise costs for global trade.
- Market signals and prediction markets have reduced the near‑term odds of a deal while U.S. forces continue to enforce a militarized posture in the area, keeping shipping risk and uncertainty high for traders and shippers.