Overview
- A temporary halt in U.S. air strikes and Iran’s retaliatory attacks held through Monday, creating space for mediators from Oman, Qatar and Pakistan to restart discussions between Washington and Tehran.
- Oman has presented a regional mechanism modeled on the Strait of Malacca that would set traffic-management protocols and voluntary transit fees to fund navigation and environmental services.
- Iran and Oman are in active technical talks about how to operate the passage and how fees would be set, with Iranian officials saying the two countries will decide what tolls, if any, Western ships pay.
- Physical shipping through Hormuz remains severely reduced, with maritime trackers showing daily transits at roughly 10–20% of pre‑war levels, and oil markets fell sharply as traders priced the pause as fragile.
- The lull is reversible because the IRGC has enforced transit limits, Houthi and militia drone strikes continue to threaten alternative Red Sea routes, and President Donald Trump has warned U.S. strikes would resume if talks fail.