Iran says deal with Oman on Strait of Hormuz is in final stages

Iran says it has reached an agreement with Oman on a route for shipping through the Strait of Hormuz.

Foreign ministry spokesman Esmaeil Baqaei did not give any further details on the agreement, which he said was "in the final stages".

Baqaei warned, however, that a deal with Oman would not guarantee safe navigation through the strait, arguing security remained impacted by the US blockade of Iran's ports. The US and Oman have not commented on the proposal.

Since the US and Israel attacked Iran in February, Tehran has largely blocked the Strait of Hormuz through which about a fifth of the world's oil and liquefied natural gas usually passes.

On Tuesday, US President Donald Trump warned that Iran would be "hit very hard" if the strait did not open "very soon".

His comments came after senior US officials said talks had progressed to allow shipments to potentially resume later this week, though Iran has maintained that it is not negotiating with the US and has no plans to do so.

Reopening the strait has been a key point in discussions between the two countries and mediators.

In his statement, the Iranian foreign ministry spokesman said the "geographical coordinates of the route" had been agreed with Oman.

"The factors making the Strait of Hormuz insecure still exist on the part of the United States, particularly the naval blockade and other aggressive and threatening actions against Iran and its interests," he said, according to Iran's official Irna news agency.

Iran's Deputy Foreign Minister Kazem Gharibabadi later told Irna the new route would be temporary and could stay open from two to four months. He did not give further details.

Oil prices edged lower on Thursday, with global benchmark Brent crude down by 0.3% at $79.24 (£58.84) in morning Asian trade.

Energy prices have fluctuated wildly during the conflict as shipments through the key route for around 20% of the world's oil and liquefied natural gas (LNG) have been severely disrupted.