Iran and Oman push framework to reopen Strait of Hormuz

NOW: Iran and Oman are pushing an interim framework aimed at reopening the Strait of Hormuz.
The proposal reportedly includes a temporary maritime corridor and a mine-clearance project designed to restore safer passage through the critical energy chokepoint.
Any credible reopening plan could have major implications for crude flows and the geopolitical risk premium currently embedded in oil prices.
For $WTI and $BRENT, progress toward restoring normal shipping through Hormuz would likely reduce immediate supply disruption fears.