Progress in Oman-mediated negotiations may lead to a 60-day shipping route deal, lifting US restrictions on commercial transit in the Strait of Hormuz.
Negotiations between the US and Iran in Oman have made progress, with officials indicating a potential deal to restore commercial shipping in the Strait of Hormuz. The agreement could be announced soon, lifting the US blockade on transit through the critical waterway.
Sources said a temporary 60-day route was discussed, though terms remain unfinalized until a public announcement. The Trump administration seeks unrestricted navigation without Iranian tolls or approval requirements for vessels.
A resolution could shift market sentiment toward risk-on, benefiting commodities, commodity-linked currencies like AUD and CAD, and global equities.