Iran, Oman agree Strait of Hormuz shipping route
Iran said on Wednesday it had reached an agreement with Oman on a shipping route through the Strait of Hormuz, a critical corridor for global oil exports. A foreign ministry spokesman gave no further details but said the agreement was "in the final stages". The strait has faced heightened tension after a string of attacks on vessels in the wider region.
Iran said on Wednesday that it had reached an agreement with Oman over a shipping route through the Strait of Hormuz, one of the world's most important corridors for oil and gas exports. A foreign ministry spokesman did not provide details of the route but said the deal with the Gulf neighbour was in its "final stages".
The strait, which sits between Iran and Oman, has come under scrutiny in recent months after a series of attacks on vessels transiting the wider Middle East shipping lanes. Analysts have warned that threats to tankers in the region are at their highest level since the start of the conflict with Iran.
A finalised route agreement could ease some of the uncertainty facing shipping companies navigating the corridor, through which roughly a fifth of global oil consumption passes. Further details, including timing and specific coordinates, are expected once both governments formally sign off on the arrangement.
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