A Wednesday announcement is expected for an interim agreement granting Iran greater control over strait traffic without initial tolls.
The US, Iran, and Oman are finalizing a 60-day interim deal to reopen the Strait of Hormuz, with a targeted announcement on Wednesday. The agreement includes a defined lane structure and removes tolls during the initial period, aiming to reduce geopolitical risk in oil markets.
Earlier reports suggested potential friction over transit fees and a voluntary fund, but the current deal avoids these issues. A 30-day mine clearance timeline for the median lane precedes a permanent two-way arrangement, providing a near-term milestone for markets to monitor.
The arrangement grants Iran greater control over strait traffic than it held before the conflict, a concession that could impact the deal’s perceived stability. Delays or disputes in implementation may reintroduce volatility in crude prices.