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Route Deal Nears
Iran said it has reached an agreement with Oman on a route for ships transiting the Strait of Hormuz and that the deal is "in the final stages," with Foreign ministry spokesman Esmaeil Baqaei not giving further details.
“in the final stages”
The BBC reported that Baqaei warned a deal with Oman would not guarantee safe navigation, arguing security remained impacted by the US blockade of Iran's ports.
CBS News said President Trump told reporters "a lot of progress had been made" on reopening the Strait of Hormuz and suggested an announcement could be made soon.
CBS News also reported that Iran and Oman agreed Wednesday to a route for ships transiting the Strait of Hormuz and are putting the final touches on arrangements for jointly managing the passage, Tehran's foreign ministry said.
The BBC added that Iran's Deputy Foreign Minister Kazem Gharibabadi later told Irna the new route would be temporary and could stay open from two to four months.
Tanker Explosions
While Iran and Oman discussed passage arrangements, a British maritime agency said a tanker reported hearing explosions while transiting the Strait of Hormuz near Oman.
CBS News quoted the UKMTO saying, "The Master of a tanker has reported hearing two explosions whilst transiting in the Strait of Hormuz," and said the incident occurred about 10 miles southeast of Kumzar, Oman.
The BBC reported that since the US and Israel attacked Iran in February, Tehran has largely blocked the Strait of Hormuz through which about a fifth of the world's oil and liquefied natural gas usually passes.
CBS News said Iran has seized de facto control over the strait since the war began in February and has fired on ships it said failed to follow authorized routes.
The BBC also noted that oil prices edged lower on Thursday, with Brent crude down by 0.3% at $79.24 (£58.84) in morning Asian trade.
Control, Fees, and Risk
The emerging Hormuz framework is tied to disputes over control and fees, with the BBC saying Iran is seeking fees of between 5% and 7% of the price of cargoes from ships using the strait.
“Iran is seeking fees of between 5% and 7% of the price of cargoes”
The BBC reported that Oman is discussing fees of around 3%, while Washington wants no fees at all, and that the proposed deal would give Tehran control over ships entering the Gulf through the Strait of Hormuz.
CBS News said President Trump denied U.S. running low on some munitions and claimed, "The U.S. has massive amounts of 'munitions,' especially of certain types," while also saying the U.S. has used nearly all of its global stockpile of long-range precision missiles during the war with Iran.
The BBC reported that Trump warned Iran would be "hit very hard" if the strait did not open "very soon," and said his comments came after senior US officials said talks had progressed to allow shipments to potentially resume later this week.
The BBC added that the reopening is a key point in discussions between the two countries and mediators, but that Iran has maintained it is not negotiating with the US and has no plans to do so.
