An agreement between Iran and Oman regarding the Strait of Hormuz has not been finalized, a senior Iranian source told Reuters, despite earlier speculation that a deal could be imminent. Talks between Tehran and Muscat remain ongoing, with key details unresolved and no official announcement from either government. The strait, a critical maritime chokepoint, carries roughly one-fifth, or about 20%, of the world's petroleum shipments daily. A formal accord could strengthen maritime-security cooperation, reduce the risk of miscalculation and ease geopolitical concerns that influence oil prices. However, issues including territorial waters and sanctions-related restrictions may prolong negotiations. Observers will watch for statements from Iranian and Omani authorities, progress in the coming weeks, and the possible involvement of other regional players and global powers.