According to multiple media reports, a deal is nearing between Iran and Oman that would, at least to some degree, reopen the Strait of Hormuz, marking a significant step toward an end to the war in Iran. The deal has been reported as close, but there had been no announcement of a final agreement as of Thursday morning. As reported widely on Wednesday, the deal entails Iran handling incoming traffic to the Strait and Oman handling outgoing traffic. Iran would control a channel of the Strait, closer to its own coast, while Oman would control a different channel, South of Iran’s. If the reported deal comes together, the biggest question will be what comes after.