{"id":64620,"date":"2026-07-11T10:38:12","date_gmt":"2026-07-11T14:38:12","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/iran-and-oman-discuss-reopening-strategic-middle-passage-in-strait-of-hormuz\/64620\/"},"modified":"2026-07-11T10:38:12","modified_gmt":"2026-07-11T14:38:12","slug":"iran-and-oman-discuss-reopening-strategic-middle-passage-in-strait-of-hormuz","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/iran-and-oman-discuss-reopening-strategic-middle-passage-in-strait-of-hormuz\/64620\/","title":{"rendered":"Iran and Oman Discuss Reopening Strategic &#8220;Middle Passage&#8221; in Strait of Hormuz"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Iran and Oman are in active negotiations<\/strong> to announce a guarantee for full and free movement through the <strong>&quot;Middle Passage&quot;<\/strong> of the Strait of Hormuz, a move that could stabilize global energy flows.<\/li>\n<li><strong>Qatari negotiators<\/strong> have joined the talks in Muscat, acting as key intermediaries to bridge the gap between Tehran and Western interests following recent maritime hostilities.<\/li>\n<li><strong>The U.S. has set a Saturday deadline<\/strong> for Iran to publicly declare the waterway open, following a week of retaliatory strikes and renewed attacks on commercial vessels.<\/li>\n<li><strong>Global <a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">oil prices<\/a><\/strong> remain highly sensitive to the outcome; Brent crude has fluctuated between <strong>$70 and $110 per barrel<\/strong> in recent months based on the perceived stability of the 60-day memorandum of understanding (MoU).<\/li>\n<li><strong>Navigation in the central passage<\/strong> would bypass the more contested littoral waters, potentially reducing the insurance premiums and &quot;war risk&quot; surcharges currently crippling regional shipping.<\/li>\n<\/ul>\n<p>Negotiators from <strong>Iran<\/strong> and the <strong>Sultanate of Oman<\/strong> are currently finalizing a potential joint statement that would guarantee the &quot;full and free movement&quot; of navigation through the central passage of the <strong>Strait of Hormuz<\/strong>. This diplomatic push, reported by <em>Axios<\/em> on Saturday, aims to formalize a safe corridor for international shipping amidst a fragile ceasefire that has been repeatedly tested by military exchanges.<\/p>\n<p><strong>Qatari<\/strong> officials are also participating in the high-stakes talks in <strong>Muscat<\/strong>, serving as a critical diplomatic bridge. The presence of Doha\u2019s negotiators underscores the regional urgency to prevent a total collapse of the June 17 memorandum of understanding (MoU), which had briefly lowered tensions before a series of &quot;errant&quot; attacks by hardline factions earlier this week.<\/p>\n<p>The <strong>United States<\/strong> has reportedly signaled that it expects a public declaration from Tehran by the end of the day. This demand follows a period of intense volatility where the <strong>U.S. military<\/strong> struck Iranian targets in retaliation for missiles fired at merchant vessels. President <strong>Donald Trump<\/strong> has maintained that while the ceasefire was &quot;broken&quot; by these attacks, the door for a broader deal remains open if navigation is secured.<\/p>\n<p>For energy markets, the reopening of the &quot;Middle Passage&quot; is a vital development. The <strong>Strait of Hormuz<\/strong> handles approximately <strong>20% of global oil supply<\/strong>, and previous disruptions have sent prices for Brent crude surging by as much as <strong>10-13%<\/strong> in single trading sessions. Major energy firms like ExxonMobil (<a href=\"\/stock\/XOM\">XOM<\/a>) and Chevron (<a href=\"\/stock\/CVX\">CVX<\/a>) are closely monitoring the security of these lanes, as the &quot;toll-free&quot; and &quot;unrestricted&quot; status of the strait remains the primary point of contention.<\/p>\n<p>Market analysts suggest that a successful announcement could see oil prices stabilize near the <strong>$70 per barrel<\/strong> mark, down from highs of <strong>$110<\/strong> seen during the peak of the 2026 conflict. However, skepticism remains high among shipowners; many are waiting for physical proof of safe passage before resuming regular schedules through the world&#39;s most critical maritime chokepoint.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Iran and Oman are in active negotiations to announce a guarantee for full and free movement through the 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