Middle East: Hundreds of ships remain stranded in Strait of Hormuz
Two regional officials reported that Iranian and Omani negotiators were able to finalize the draft deal to reopen the Strait, and are now awaiting a final green light from Iran’s supreme leader.
Closure of the strait, through which around 20 percent of the world’s oil and natural gas passed before the conflict broke out, has driven up the price of fuel and basic goods far beyond the Middle East.
Hundreds of vessels are stranded in the Strait of Hormuz, as Iran and Oman moved closer to an agreement that could ease strain on the global economy.
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