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Iran-Oman understanding does not provide for immediate reopening of Strait of Hormuz, Tasnim reports

Iran and Oman have reached an understanding on Hormuz management, but it does not provide for immediate reopening of the strait. This suggests the agreement falls short of what would be needed to resolve the market by September 21. The headline does not confirm whether a formal Iran-Oman Hormuz Management Agreement has been signed or will be by the stated window.