Iran and Oman push talks for ‘interim’ reopening of Hormuz — Bloomberg
Iranian Foreign Minister Abbas Araghchi and his Omani counterpart Badr Albusaidi discussed an “interim framework” aimed at resuming shipping through the Strait of Hormuz, Bloomberg reported on Tuesday.
According to the statement, the initiative seeks to establish a “temporary joint maritime corridor” and project for mine clearance to restore safe navigation through the critical waterway.
Iranian Deputy Foreign Minister Kazem Gharibabadi said that Iran and Oman will hold further talks to “negotiate a new permanent route within 30 to 60 days” for shipping through the vital waterway, without specifying when the next phase of discussions will begin.
Market reaction
At the time of writing, the West Texas Intermediate (WTI) is down 4.71% on the day at $80.60.
Read more
* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
