Iran and Oman close in on a temporary Hormuz route, and Tehran's own plan would give it oversight of both lanes

US Secretary of State Marco Rubio said on Tuesday 4 August 2026 that talks with Iran on reopening the Strait of Hormuz have reached a final stage and that a reopening is possible within days. The same day, US Treasury Secretary Scott Bessent said an agreement could be reached within a day or two.

What is on the table, according to Anadolu Agency, is a new Iran and Oman framework for managing shipping. Iranian Foreign Ministry spokesman Esmaeil Baqaei said on Monday 3 August that Tehran is working with Muscat to establish "a temporary route" through the strait. Oman had proposed a regional mechanism modelled on the Strait of Malacca, splitting the route 50 to 50 between the two countries' waters. Iran rejected that and tabled its own plan, under which one lane would lie entirely inside Iranian territorial waters and part of the second lane would also pass through Iranian waters. Anadolu's assessment is that this would give Tehran oversight of both inbound and outbound traffic, that is of both lanes. Foreign Minister Abbas Araghchi said on Sunday 2 August that the negotiations with Muscat were close to being finalised.

No agreement has been announced. Qatari foreign ministry spokesman Majed al-Ansari said on Tuesday 4 August that no deal has been reached and that the parties are still exchanging drafts, while Baqaei has said nothing will change at the strait while the naval blockade continues. A US official told the New York Times that the Iranian account was "not accurate" and that temporary routes would not require Iranian approval. Roughly one fifth of world oil trade passes through the waterway. On Tuesday, West Texas Intermediate fell about 5% to around $76 a barrel and Brent dropped about 4% to around $80.