Iran-Oman Hormuz deal, Trump threats
Analysis based on 32 articles · First reported Aug 15, 2026 · Last updated Aug 18, 2026
Brent Crude rose nearly 6% this week as hopes for a quick resolution faded, reflecting heightened supply risk through the Strait of Hormuz. Continued attacks and threats of escalation keep oil prices elevated and add uncertainty to global energy markets.
Iran and Oman are finalizing a joint statement and a shipping map to manage transit through the Strait of Hormuz, which Iran effectively closed after U.S. and Israeli attacks on Feb. 28. The deal would reopen the strait with ships entering near Iran and exiting near Oman, without tolls during an interim period. U.S. President Donald Trump has repeatedly threatened to bomb Oman if it interferes with U.S. demands for full reopening. The 60-day U.S.-Iran negotiating period expired with no extension and no progress. Meanwhile, Houthi rebels claimed attacks on Saudi vessels in the Red Sea, Israel struck Hezbollah in Lebanon, and drone attacks targeted Iraqi Kurdish officials. These developments heighten regional instability and oil supply risks.
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