U.S. Officials Says There Is Progress Between Oman And Iran On The Strait Of Hormuz And We Expect A Deal Soon; Once A Deal Is Announced To Restore Commercial Shipping Without Impediments, The U.S. Will Lift The Blockade Of Iranian Ports; U.S. Actions Will Continue To Be Performance-Based And Tied To Iran's Implementation Of Its Commitments
- Reuters
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Why It Matters
The U.S. and Iran are working toward a deal to keep shipping safe and flowing through an important water route. If they agree and follow through, the U.S. will remove its trade restrictions on Iran, which could affect oil prices and global markets.
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