US-Iran Hormuz agreementRecent reports indicate that Iran and Oman are in the process of negotiating a new arrangement for the Strait of Hormuz, with regional stakeholders showing support for locally driven solutions. The Strait of Hormuz, a vital maritime passage, has been central to discussions following recent U.S.-Iran tensions and ceasefire talks. Ongoing negotiations between Iran and Oman aim to establish a new understanding concerning the strait’s usage, which could potentially reduce tensions in the region. Key TakeawaysMarket activity suggests a perceived decline in U.S. influence over the Strait of Hormuz negotiations, with Trump reportedly attempting to claim credit for a deal not negotiated by him. What to WatchObservers should monitor any official statements from Iran and Oman regarding their negotiations and any potential joint announcements.