Strait of Hormuz transit talks await Iran-Oman announcement

Aug 18, 2026 6 min read Share on LinkedIn
Strait of Hormuz transit talks await Iran-Oman announcement
1:06


Updated Tuesday, August 18 - 9:05 AM CT

Strait of Hormuz

Transit talks await announcement

Mediating countries are waiting for Iran and Oman to announce an expected agreement on transit through the Strait of Hormuz before pushing Washington and Tehran to resume broader negotiations, Qatar's Foreign Ministry said Aug 18.

US-Iran MoU

Expired, no extension sought

The memorandum of understanding between the US and Iran expired Aug 17, with Trump saying Washington is not seeking an extension and Iran's Foreign Ministry saying US violations have rendered the MoU's 60-day deadline moot.

Caroline Bezengi spill

Now covers 2,000 sq km

Oman is intensifying efforts to contain an oil spill from the grounded vessel Caroline Bezengi near al-Qibliyyah Island, which has been leaking since a suspected explosion on June 8 and now covers more than 2,000 sq km.

This week: August 16-18

Mediating countries are waiting for Iran and Oman to announce an expected agreement on transit through the Strait of Hormuz before pushing Washington and Tehran to resume broader negotiations, Qatar's Foreign Ministry said Aug 18. The statement came hours after US President Trump posted an image on social media proclaiming the Strait "New US Territory," a claim Iran's Deputy Foreign Minister dismissed as delusional. Turkish President Erdogan told Al Jazeera that reopening the Strait is a priority and separately told Trump that Turkiye is ready to contribute to continuing talks with Iran.

The memorandum of understanding between the US and Iran expired Aug 17, with Trump saying Washington is not seeking an extension and that Tehran should "put up the white flag of surrender." Iran's Foreign Ministry said US violations have rendered the MoU's 60-day deadline moot, and an IRGC general said Iran is poised to shift from a defensive to an offensive posture under a new "maximum deterrence" policy. Trump also said his administration is holding talks with the Revolutionary Guard Corps, a claim the IRGC denied.

Oman is intensifying efforts to contain an oil spill from the grounded vessel Caroline Bezengi near al-Qibliyyah Island, which has been leaking since a suspected explosion on June 8. The spill now covers more than 2,000 sq km, and the ship lacks a reliable power source for rescue equipment.

This week's updates

  • Aug 16 Turkish President Erdogan told Al Jazeera that reopening the Strait of Hormuz is a priority and separately told Trump that Turkiye is ready to contribute to continuing talks with Iran.
  • Aug 17 The memorandum of understanding between the US and Iran expired, with Trump saying Washington is not seeking an extension and Iran's Foreign Ministry saying US violations have rendered the MoU's 60-day deadline moot.
  • Aug 17 IRGC Brigadier General Yadollah Javani said Iran is poised to shift from a defensive to an offensive posture under a new maximum deterrence policy.
  • Aug 17 Oman is intensifying efforts to contain an oil spill from the grounded vessel Caroline Bezengi near al-Qibliyyah Island, which has been leaking since a suspected explosion on June 8 and now covers more than 2,000 sq km.
  • FLASHAug 18 Qatar's Foreign Ministry said mediating countries are waiting for Iran and Oman to announce an expected agreement on transit through the Strait of Hormuz before pushing Washington and Tehran to resume broader negotiations.
  • Aug 18 US President Trump posted an image on social media proclaiming the Strait of Hormuz as New US Territory, a claim Iran's Deputy Foreign Minister dismissed as delusional.
Still developing

The expected Iran-Oman transit agreement is the clearest near-term signal for whether Strait of Hormuz passage will normalize or remain subject to disruption. If the agreement is announced and mediators succeed in restarting US-Iran talks, charterers and owners should anticipate some easing of war risk premiums and a reduction in transit delays through the chokepoint. If the announcement does not materialize or talks stall, expect continued uncertainty around Strait passage, with owners likely to maintain elevated war risk pricing and charterers facing longer lead times for Gulf load ports.

Previous 5 weeks: quick reference

August 9-15
Week 33
  • Aug 12, 2026: The US military says it has redirected 59 commercial vessels, disabled three and boarded two since reinstating its naval blockade on Iran.
  • Aug 12, 2026: The International Energy Agency forecasts that global oil supply will fall by 4.3 million barrels per day this year amid disruptions in the Strait of Hormuz and Bab al-Mandeb.
  • Aug 13, 2026: The UAE said two of its vessels were attacked in the Strait of Hormuz and called on Iran to halt these unprovoked attacks.
  • Aug 13, 2026: US Secretary of Defense Pete Hegseth claims the US can maintain its blockade on Iran indefinitely, while US Vice President JD Vance says the main goal is ensuring Gulf countries continue to send oil and gas to the world economy for energy price stability.
  • Aug 14, 2026: Iran's Foreign Minister Araghchi said talks with Oman over an approved route through the Strait of Hormuz may conclude soon, but reiterated this issue was separate from the total opening of the waterway and an end to the war.
  • Aug 15, 2026: Iran reiterated it has reached an agreement with Oman on a shipping route map for the Strait of Hormuz after weeks of technical negotiations, but the finer points of a deal were still being finalised.
August 2-8
Week 32
  • Aug 2, 2026: US President Trump said negotiations with Iran are set to begin August 3 and a deal is likely on the Strait of Hormuz and denuclearisation, while Iranian Foreign Minister Araghchi said negotiations between Oman and Iran on the strait are in their final stages.
  • Aug 3, 2026: US Central Command said it has redirected 44 commercial vessels transiting the Strait of Hormuz since reimposing the blockade mid-July.
  • Aug 4, 2026: US Treasury Secretary Scott Bessent said a deal to reopen the Strait of Hormuz could be reached today or tomorrow, while oil prices fell sharply on hopes of a deal, with Brent crude falling below $80 a barrel.
  • Aug 7, 2026: US Central Command said it has redirected 51 commercial vessels, disabled two and boarded two others since reinstating its naval blockade of Iran on July 14.
  • Aug 7, 2026: Saudi Arabia, Turkiye and Pakistan signed the Mecca Joint Defence Agreement, committing each country to treat an attack on one as an attack on all.
  • Aug 8, 2026: US Central Command said it has redirected 53 commercial vessels as part of its naval blockade on Iran, while Iran's Supreme National Security Council secretary said the US must lift sanctions and compensate Iran for war damages as demands for reopening the Strait of Hormuz.
July 26-August 1
Week 31
  • Jul 26, 2026: Iran's Foreign Ministry says there has been progress in talks with Oman on managing shipping in the Strait of Hormuz, while an oil tanker exploded after hitting a naval mine in the strait.
  • Jul 26, 2026: After nearly two weeks of bombings, two consecutive nights passed with no US attacks on Iran, and Tehran halted retaliatory attacks in the region.
  • Jul 28, 2026: Iran's Islamic Revolutionary Guard Corps launched ballistic missiles at US bases in the region in what the US military called a surprise attack, though all missiles were intercepted.
  • Jul 28, 2026: The US military redirected 18 commercial vessels as part of its renewed blockade of Iranian ports, a figure that rose to 20 vessels by July 29.
  • Jul 29, 2026: A drone hit a US-owned gas storage tanker at Egypt's Mediterranean port of Damietta, causing a fire on a tugboat and storage ship with no casualties reported.
  • Jul 30, 2026: Iran's IRGC targeted US bases in Kuwait and Jordan after US forces bombed locations on Qeshm Island, Kish Island, Bushehr, Khuzestan and Zanjan province, killing civilians and three IRGC members.
July 19-25
Week 30
  • Naval blockade enforcement intensifies. CENTCOM reports 16 commercial vessels stopped by July 25: 12 redirected, 2 disabled, 2 boarded.
  • US strikes run 10 to 13 consecutive nights across the week. Trump weighs what he calls a "massive attack," and Defense Secretary Hegseth cites a war cost near $37.5 billion.
  • Iranian missile and drone attacks spread to Jordan, Bahrain, and Kuwait. An unidentified projectile causes a fire on a tanker off Saudi Arabia, and Houthi forces strike two Saudi oil tankers in the Red Sea.
  • Iran's Health Ministry puts the death toll from US strikes since June 27 at 53, including three children.
  • UN Secretary-General Guterres warns the region is "teetering on the edge of the unimaginable" as the Gulf Cooperation Council and Jordan condemn Iran's attacks.
July 12-18
Week 29
  • The US reimposes its naval blockade on Iranian ports on July 13, effective 20:00 GMT.
  • The UAE says Iran targeted two of its oil tankers in the Strait of Hormuz, killing an Indian crew member and injuring eight others.
  • US strikes expand into central Iran for a seventh consecutive night. Satellite imagery shows new damage at the Bushehr nuclear plant complex.
  • Kuwait's air defenses intercept 21 Iranian drones, and Iran's army says the strait will "never return to what it was before" the war.
  • Two US service members are killed in an attack in Jordan, prompting a new round of US strikes on Iran on July 18. Iran's new Supreme Leader, Mojtaba Khamenei, calls Trump's signature "worthless and invalid."

This overview is compiled from public reporting and official statements, including CENTCOM, the US Treasury, the IRGC, and Al Jazeera's coverage. It is provided for general market awareness and is not a substitute for official guidance, sanctions counsel, or vessel-specific risk assessment. SPI Marine does not guarantee its completeness or accuracy. Details from the most recent 1-2 days may be headline-level only, pending fuller confirmation. 

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