Strait Talk: Oman's Deal with Iran Won't Fix Hormuz Without Washington's Blessing Tensions surrounding the strategic Strait of Hormuz have reached a boiling point, with Iran and Oman making tentative progress on managing shipping through this critical waterway.
However, any agreement between these two nations won't automatically resolve the crisis without explicit approval from Washington.
The recent attacks on vessels navigating the strait have sent shockwaves throughout global markets, causing Brent crude prices to skyrocket in response to dwindling hopes of a swift resolution.