Iran and Oman Resume Hormuz Strait Passage Talks, Trump Says Waterway Cleared of Mines, Brent at $86

Iran has resumed discussions with Oman to reopen safe passage through the Strait of Hormuz, as U.S. President Donald Trump stated all mines in the strategic waterway have been cleared.

US Stock Futures, Oil Slip; Asian Markets Mixed

On Tuesday evening, Dow futures fell 26.00 points, or 0.05%, to 53,619.00, while S&P 500 futures declined 13.75 points, or 0.18%, to 7,678.25. Nasdaq 100 futures dropped 119.25 points, or 0.41%, to 29,157.50.

In commodities, West Texas Intermediate crude fell 1.97% to $80.74 per barrel, and Brent crude dropped 2.14% to $86.68 per barrel. Natural gas futures rose 1.34% to $2.807 per million British thermal units.

Meanwhile, the U.S. dollar index, which tracks the greenback against a basket of currencies, stood at 98.917, up 0.02%.

Asian markets were mixed, with South Korea's KOSPI gaining 0.16% to 6,753.41, while Japan's Nikkei 225 fell 0.44% to 65,568.24.

Iran, Oman Discuss Temporary Hormuz Strait Corridor

Iran and Oman said they have discussed a framework for temporary navigation corridors through the Strait of Hormuz and agreed to cooperate on clearing mines in the waterway, according to Reuters.

The talks aim to restore safer shipping through the route, which previously handled roughly one-fifth of global oil and liquefied natural gas shipments.

These discussions come as diplomatic efforts between Iran and the United States remain stalled, with Washington continuing to apply economic pressure on Tehran through sanctions.

Trump Says Hormuz Strait Mines Cleared

On Tuesday, Trump also stated that all mines in international waters of the Strait of Hormuz have been cleared or detonated. He also warned Iran against attempting to lay additional mines, saying the U.S. would respond forcefully.

Despite Trump's remarks and the Iran-Oman talks, commercial shipping through the waterway remains extremely risky.

According to a report from the United Kingdom Maritime Trade Operations, a tanker was struck by an unidentified projectile on Tuesday approximately 9 nautical miles northeast of Ash Shishah, Oman, near the entrance to the Strait of Hormuz, and lost propulsion.

US Reportedly Sends Personnel to Middle East Diplomatic Posts

Meanwhile, the U.S. has begun sending personnel to some Middle East diplomatic missions that were evacuated or scaled back during the conflict, the report said, citing two sources familiar with the matter.

This phased move includes posts in Lebanon, Israel, Saudi Arabia, and Baghdad, indicating Washington believes the immediate risk of further escalation has eased.

However, some embassies will initially operate with reduced staffing as U.S. officials continue to assess the security situation.