Iran and Oman have advanced bilateral talks on a temporary joint navigation corridor through the Strait of Hormuz, including route mapping, mine clearance, and mechanisms for traffic management and maritime services. Recent statements from Omani Foreign Minister Badr Albusaidi and Iranian Deputy Foreign Minister Kazem Gharibabadi indicate near-consensus on key technical elements following meetings in Tehran, with a joint statement under finalization. Progress remains tied to broader conditions, such as U.S. adherence to prior memoranda and regional consultations involving GCC states, amid ongoing disputes over transit fees, sovereignty, and exclusion of external naval presence. These diplomatic steps, alongside Iranian parliamentary moves on service fees, shape trader assessments of timelines for formalizing any management framework.