Iran and Oman near Hormuz deal that would bar US and Israeli ships

What happened

• Iran's foreign ministry said both sides agreed geographic coordinates for navigation routes after two months of negotiations.
• The draft reportedly routes outbound traffic through Omani waters, while inbound ships would hug the Iranian coast.
• The strait has been effectively closed since the US and Israel attacked Iran on 28 February.
• US Central Command said on Thursday its blockade continues: 49 commercial vessels redirected, two disabled, two boarded.
• Crude traded around 80 dollars a barrel on Thursday, down from above 100 dollars two weeks earlier.

The view from outside

The South China Morning Post notes that few US- or Israeli-flagged commercial ships operate globally, leaving open how broadly Tehran would apply such a ban, and quotes a former State Department official as saying both sides are raising demands rather than conceding. FAZ cites analysts warning that headlines, not fundamentals, are currently setting the oil price.

What could happen next

• Fees remain unresolved: Iranian officials describe a service fee, US officials say no tolls during the 60-day grace period.
• A former Israeli air force commander told 103FM Iran seeks about 7 percent commission, Oman 3 percent, Washington none.
• Tehran promised a joint statement with Oman; a White House announcement planned for Wednesday, reported by Axios, did not happen.
• Houthi attacks on Saudi tankers continue, the group claiming an eighth and ninth vessel since its blockade began last month.