A proposed deal between Iran and Oman would give Tehran control over ships entering the Gulf through the Strait of Hormuz, a senior Iranian source and two regional officials say. The sources pushed back on President Trump's claims that a deal reopening the strait was imminent, saying key details remain unresolved.
Iran Presses For Control Over Inbound Traffic
A proposed deal between Iran and Oman would give Tehran control over ships entering the Gulf through the Strait of Hormuz, a senior Iranian source and two regional officials told Reuters, calling it one of the biggest concessions yet to Iran. Despite the apparent shift, the sources pushed back against President Donald Trump's assertions that a deal reopening the strait was imminent, saying important details still need to be resolved.
One of the regional sources told Reuters: "The concession has already been made regarding some form of control over Hormuz." The other regional source said Gulf negotiators still want regional countries to supervise ship inspections and want any transit fees paid voluntarily.
Fees And Sticking Points
The senior Iranian source said the text on the table would give Iran control of ships heading into the Gulf, but a key sticking point remains what role Tehran would also have over ships heading out. Iran is seeking fees of 5% to 7% of the price of cargoes transiting the strait, while Oman has discussed smaller fees of around 3%, and Washington wants no fees at all. Making the fees voluntary, at least in name, could offer a way out of the impasse.
Trump told Fox News overnight that talks were progressing well after an all-day negotiation on Tuesday, predicting the strait would reopen soon. But the senior Iranian source downplayed the idea that a deal would be finalized quickly, noting that Foreign Minister Abbas Araqchi was on holiday, while a separate Iranian source said a single tweet from Trump could still cause the process to collapse.
Any agreement giving Iran control over strait access would mark a major shift in regional power toward Tehran, a consequence of the war launched by the United States and Israel. Trump, who initially said the campaign would end in Iran's unconditional surrender, is under pressure to end a war that polls show most U.S. voters oppose by two to one.
Oil Ticks Higher As Red Sea Attacks Continue
Oil prices ticked higher Wednesday after Iran-aligned Houthi fighters in Yemen said they had fired on a Saudi-flagged tanker in the Red Sea, the latest attack on Middle East shipping to disrupt global energy supplies.
Crude oil prices still remain close to their lowest levels since early July, having plunged over the past two days after Trump called off fresh attacks on Iran, citing new talks he said could end the conflict.
The Houthis said Wednesday they had again struck a Saudi tanker in the Red Sea, calling it enforcement of what they describe as a blockade of Saudi oil shipments on the main route used to bypass Hormuz. On Tuesday, a projectile sank an Indian-flagged vessel near Yemen; all 14 crew, 13 of them Indian, were rescued, and Yemen's rival government in the south blamed the Houthis.
Source: Investing.com
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