Officials report progress on a deal to reopen the Strait of Hormuz

Key Points:

• Iran and Oman are negotiating a deal to reopen the Strait of Hormuz, potentially allowing ships to enter via an Iranian-controlled route and exit through an Omani-controlled route, with fees for security and environmental protection.
• The agreement is linked to lifting the U.S. blockade on Iran's ports, but the U.S. opposes any deal that grants Iran control over the strait and insists on maintaining free passage without tolls.
• U.S. officials acknowledge progress in talks but emphasize no final agreement yet, while Iranian and Omani officials confirm ongoing negotiations focused on safe shipping lanes respecting both countries' security concerns.
• The strait, vital for global oil and gas trade, has been disrupted by Iranian attacks on ships, causing economic impacts worldwide; President Trump has called this Iran's "last chance" to reach a deal before potential military escalation.
• Recently, a cargo ship was reportedly hit by an unknown projectile in the strait near Oman, highlighting ongoing security risks despite diplomatic efforts to stabilize the area.