WorldIran, Oman Near Hormuz Shipping Deal

Global markets are watching for a possible breakthrough in the Middle East as Iran and Oman approach the final stage of a shipping agreement. The proposed arrangement concerns transit through the Strait of Hormuz, a major oil route. It could enable shipping to resume there if completed. President Trump said a deal was imminent, while Iran characterized any reopening as temporary. Tankers carrying UAE cargo are still switching off their transponders in the strait.