Oman’s statement appears to indicate that the negotiations over the Strait of Hormuz are moving forward positively, which could suggest a shift towards a resolution. Market pricing suggests a slight increase in optimism for a U.S.-Iran agreement by August 31, with YES odds currently at 49%, up from 34.5% for an earlier August 15 deadline.

Tehran has announced that Iran and Oman have agreed on the geographic route for shipping through the Strait of Hormuz, claiming that the US was not involved in the agreement. At the same time, the US President has claimed Hormuz negotiations with Iran are “moving along very nicely”.

A cargo ship reports it has been hit by a projectile off the coast of Oman in the Strait of Hormuz. The United Kingdom Maritime Trade Operations Center says the report came overnight.

Oman is using strategic ambiguity as talks over possible Strait of Hormuz fees raise legal, diplomatic and oil market concerns.