Iran and Oman have agreed a route for ships transiting the Strait of Hormuz and were finalizing arrangements for jointly managing the strategic waterway, Tehran said Wednesday, even as fresh security incidents highlighted continued risks for regional shipping.

According to the report, vessels heading into the Persian Gulf would transit a channel controlled by Iran, and close to its coast, while ships leaving the Gulf would travel on a…

Iran and Oman are close to reaching an agreement to restore commercial maritime traffic through the Strait of Hormuz, The New York Times reported, citing Iranian and US officials.

Iran and Oman are making progress on a deal to reopen the Strait of Hormuz. This potential agreement involves shared control and service fees for maritime passage. US officials…