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Strait of Hormuz traffic has dropped this week as Iran and Oman discuss an understanding on the key waterway. Attacks on commercial vessels and fresh US sanctions have also increased pressure on regional shipping.
Hassan Ghashghavi, spokesman for Iran’s parliamentary National Security Commission, said the two countries had agreed on a general framework.
“The general framework of the understanding with Oman has been determined,” Ghashghavi told state news agency IRNA.
He said officials would announce the final text and details soon. However, he added that senior Iranian authorities must approve the final decision.
The Strait of Hormuz remains a vital route for global energy supplies. About one-fifth of the world’s oil consumption passes through the waterway.
Only 33 vessels crossed the strait from Monday to Thursday this week. Reuters reported the figure after reviewing shipping data.
The same period last week recorded 50 vessel movements.
Four vessels crossed the waterway on Thursday. The group included the very large crude carrier Nissos Kea.
The tanker carried about two million barrels of Basrah crude from Iraq, according to Kpler data..
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Two other vessels carried liquefied petroleum gas. A fourth vessel carried other bulk cargo.
Only six crude oil tankers left the strait this week. Meanwhile, 21 vessels entered the waterway.
Most vessels used the Iranian route, according to Kpler.
Several Chinese and Indian refiners have searched for ships to enter the strait. They want to load discounted crude from Iraq’s Basrah Oil Terminal.
Shipping sources said shipowners remain cautious. They fear security risks in the waterway.
Abu Dhabi National Oil Company (ADNOC) said attacks have disrupted its operations.
The company said it continues to serve customers despite the difficult conditions.
ADNOC said missiles and drones have attacked 15 of its vessels since the conflict began.
Three attacks occurred this week, according to the company.
The attacks killed one crew member and injured 20 others, ADNOC said.
The company continues to assess the impact on its operations.
The United States has also increased pressure on Iran.
Washington announced new sanctions against companies, exchange houses and financial facilitators.
US officials accuse the network of helping Iran move hundreds of millions of dollars through the global financial system.
Treasury Secretary Scott Bessent said so-called “teapot refineries” provide an important economic lifeline to Iran.
He said these refineries buy Iranian oil and help Tehran generate revenue.
State Department spokesman Tommy Pigott said the new measures aim to cut financial networks linked to Iran’s leadership.
He also accused Iranian-linked networks of using front companies to move oil revenue and bypass sanctions.
Iranian Deputy Foreign Minister Kazem Gharibabadi said diplomacy should continue during wartime.
He said Iran must adjust its messages and positions to match the situation on the ground.
In an interview with IRNA, Gharibabadi rejected the idea that diplomacy shows weakness.
He warned that unnecessary flexibility could encourage an opponent to take a tougher position.
He also said many wars eventually end through negotiations.
“Diplomacy and the battlefield must be fully coordinated,” Gharibabadi said.
His comments came as Iran and Oman continue discussions over the Strait of Hormuz.
Industry sources said any agreement could face practical problems.
US sanctions could limit transactions involving Iran. Insurance restrictions could also make shipping companies reluctant to enter the Gulf through the waterway.
The Strait of Hormuz remains central to the global energy market. Any prolonged disruption could affect oil supplies, shipping costs and international markets.
For now, traders and shipping companies are watching the Iran-Oman talks closely.
A final agreement could help restore confidence in the waterway. However, attacks, sanctions and security concerns continue to complicate the situation.
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