Iran and Oman are close to signing an agreement to ensure safe transit through the Hormuz Strait, against the backdrop of Brent crude oil prices falling below $90 per barrel, CNBC reports.
Recently, representatives from both countries discussed the creation of a temporary maritime corridor and the joint demining of the strait's water area. At the same time, navigation remains limited: only five commercial vessels passed through the strait the previous day, compared to an average of 15 over the last ten days.
Additional pressure on oil prices is also exerted by the return of American diplomats to the Gulf countries, which reduces the risk of military escalation. The U.S. has so far refrained from imposing broad secondary sanctions on Chinese financial firms servicing Iranian oil exports.
Recently, Brent futures fell by 3.4% to $89.05 per barrel, while WTI dropped by 3.6% to $81.99. Earlier, expectations of a possible agreement between the U.S. and Iran regarding the Hormuz Strait also contributed to the rise in stock markets.
U.S. Treasury Secretary Scott Besent stated that the opening of the strait could occur in the coming days, and the Dow Jones index reached a record closing level amid Donald Trump's statements about progress in negotiations.
