"An Iran-Oman framework for a 'temporary joint maritime corridor' is pulling oil lower."

TOKYO, Aug 26 : U.S. oil prices fell in early trade on Wednesday, extending the previous session's losses, on hopes the Strait of Hormuz could reopen after Iran said it had…

TOKYO, Aug 26 : Oil prices dropped about 2 per cent on Wednesday, adding to the previous session's losses, on fresh hopes the Strait of Hormuz could reopen after Iran said it had…

Crude oil futures decline as Iran and Oman discuss a joint maritime corridor in the Strait of Hormuz.

Apparent progress in negotiations offers hope of lowering tensions