A post by @FirstSquawk on X.

Iran has reached an agreement with Oman on a shipping corridor and traffic separation scheme in the Strait of Hormuz, according to Al Jazeera. The deal covers the strategic waterway through which roughly a fifth of global oil and liquefied natural gas shipments transit. It matters because Hormuz is the world's most important oil chokepoint, and any arrangement that reduces the risk of disruption or miscalculation there can ease pressure on energy markets and freight and insurance costs. Traders will watch for official confirmation from Tehran and Muscat, details on how the corridor is defined and enforced, and any reaction in crude benchmarks and tanker rates.