A U.S. official on Friday reported progress between Iran and Oman that could soon reopen the Strait of Hormuz, potentially restoring oil exports disrupted by the five-month-old U.S. war with Iran.
The official, speaking on condition of anonymity, said Washington expects an agreement soon between the two countries, which sit on either side of the strait, to resume normal oil traffic.
“There is progress between Oman and Iran on the strait, and we expect a deal soon,” the official told Reuters. “Once the deal is announced to restore commercial shipping without impediments, the United States will lift the blockade of Iranian ports.” The official added that U.S. actions would remain “performance-based and tied to Iran’s implementation of its commitments.”
A deal over the strategic waterway is seen as crucial to a wider peace agreement. Before the U.S. and Israel launched strikes on Iran on February 28, about one in five barrels of oil consumed worldwide transited the strait. Iran has since used the conflict to impose tolls on tankers and fire on ships crossing without permission, causing energy prices to surge and fueling inflation.
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In recent weeks the Trump administration has signaled a deal was near, only for Iran to deny talks were underway. It remains unclear if current negotiations will hold.
Shipping attacks have escalated. Abu Dhabi National Oil Company said Friday that 15 of its vessels were struck in the Strait since the conflict began, killing one crew member and wounding 20.
Amid the tensions, Saudi Arabia, Pakistan and Turkey signed a joint defense pact in Mecca on Friday. The agreement among the three Sunni-majority U.S. allies states that an attack on one would be treated as an attack on all. Turkey said it was purely defensive.
The U.S. is also brokering talks to end fighting between Israel and Hezbollah in southern Lebanon.
