Iran Says Agreement on Hormuz Shipping Route Reached With Oman

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Or sign-in if you have an account.(Bloomberg) — Iran said an agreement with Oman has been reached on a proposed route for shipping through the Strait of Hormuz, a potential step toward a reopening of the critical waterway for energy supplies. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountA joint statement from Tehran and Muscat is under review and in the final drafting stage, Iranian foreign ministry spokesman Esmail Baghaei told reporters on Wednesday, according to a post on Telegram. Negotiations between the two countries are “professional” and “forward-moving” and a deal would be struck “if certain third parties do not obstruct this process,” he said.Iran and Oman have been in discussions for several days about a management plan for the Strait of Hormuz, which has emerged as the focal point of the ongoing war between the US and the Islamic Republic. Baghaei didn’t mention any role of the US in its statement, except to say the closure of the strait was a result of attacks by Washington and Israel.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againUS President Donald Trump said in Los Angeles late Tuesday that a deal on the Strait of Hormuz is imminent. Iranian state TV played down the outcome of the discussions on Wednesday, citing a person familiar with the matter as saying an agreement between Tehran and Muscat would not necessarily mean the strait would open immediately. That would be contingent “on a change in US behavior,” according to the report. Oil steadied on Wednesday amid mounting signs that Hormuz could be reopened, potentially restoring millions of barrels a day of production disrupted by the months-long conflict. Brent crude traded slightly lower at $79 a barrel in London. The various reports and comments about an agreement on the Strait of Hormuz come after months of deadlock between the US and Iran over how to conclude the five-month war. While fighting between the sides has paused for now, a number of issues remain unresolved — not least Iran’s nuclear program — and there hasn’t been an agreement to start formal talks. 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