Capital city of Oman and seat of the Muscat Governorate
The Strait of Hormuz has reopened after Iran's Foreign Minister has announced a temporary ceasefire. Several ships, including cruise vessels, have traversed the waterway since the conflict erupted, disrupting global oil flows and cruise routes. Ongoing negotiations are expected to maintain the open passage, but the situation remains fragile.
The latest clashes in the Gulf involve Indian crews on tankers attacked near Oman. India has summoned US diplomats as three Indian sailors are confirmed dead and others evacuated. Repatriation arrangements are being made for mortal remains, with ongoing diplomatic protests and questions about safety for seafarers.
The United States and Iran have signed a preliminary 60-day deal to halt hostilities and open negotiations on sanctions, Iran's nuclear programme and the future of the Strait of Hormuz. Iran has suspended planned transit charges for 60 days but says it will retain control; Iran and Oman have formed a working group to study administration and service fees.
Oil prices extend declines after tankers exit the Strait of Hormuz, easing supply fears amid fresh Iran-US talks. Brent sits around $72.76, WTI near $69.84, with new estimates of ship movements and ongoing diplomatic efforts shaping market expectations.