Iran and Oman agree on a 60-day framework to reopen the Strait of Hormuz after shipping dropped over 90%, with potential ripple effects across

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 finalising a temporary shipping route through the vital Strait of Hormuz, focusing on joint maritime management and service fees over transit tolls.