Iran and Oman establish joint committee to manage Hormuz Strait as closure threats rise

Iran and Oman have formed a joint committee to oversee the management of the Strait of Hormuz, a key maritime route for global energy shipments. The committee was announced by Iranian parliamentary speaker Bagher Ghalibaf after an Iranian delegation visited Muscat, with Tehran taking a central role and Oman representing the southern side of the strait.

Shipping traffic through the strait remains markedly reduced, with about 36 tankers recorded by monitoring firm Kpler—roughly one‑third of the pre‑war daily average of 120 vessels. At the same time, Iran has warned it could close the strait, raising concerns over the fragile cease‑fire that followed the recent regional war and ongoing Israel‑Hezbollah tensions.

The United States has temporarily permitted transactions linked to Iranian hydrocarbons until 21 August, allowing some sanctioned Iranian tankers to move again. Decisions by the joint committee are expected to influence freight rates, oil flows and broader market perceptions of security in the Persian Gulf.