Iran and Oman advance negotiations on Strait of Hormuz shipping agreement

Iran and Oman held talks in early August 2026 about reopening the Strait of Hormuz, a key waterway for global oil and gas. Oman said the discussions were going well. Iranian Foreign Minister Abbas Araghchi confirmed that negotiations were nearly finished, but warned that reopening the strait still depended on other conditions. Iran wants the US to end military operations and remove its forces from the region. US officials, including Secretary of State Marco Rubio, also reported progress. Treasury Secretary Scott Bessent said a deal could come within days. About one-fifth of the world's oil and gas normally passes through the strait, which has been blocked since February 2026. An earlier agreement in June 2026 collapsed quickly when fighting continued.