Omani diplomatic delegation arrives in Tehran for talks on a Strait of Hormuz traffic mechanism

An Omani diplomatic delegation arrived in Tehran on Friday, July 24, to discuss mechanisms for managing and regulating the movement of ships through the Strait of Hormuz, according to media reports. The visit continues consultations between Iran and Oman, the two states bordering the strategic waterway.

The same day, Iranian Foreign Minister Abbas Araghchi held a phone call with his Omani counterpart, Badr Albusaidi, on regional developments, maritime security and the passage of commercial vessels through the Strait of Hormuz and the Persian Gulf. Oman has historically played a mediating role in regional disputes.

The talks come as tanker crossings through Hormuz have fallen to their lowest level in months and Brent crude holds above 100 dollars. Roughly one-fifth of the world's oil passes through the strait, so any sign of de-escalation or a safe passage mechanism feeds directly into oil prices, the rial and the Tehran bourse.