Strait of Hormuz deal with Oman ‘in final stages’, Iran says

A major shift in the Hormuz crisis

Foreign ministry spokesman Esmaeil Baqaei said the "geographical coordinates of the route" had been agreed, though he gave no further detail and the US and Oman have not commented.

Tehran has largely blocked the strait since the US and Israel attacked Iran in February, sending energy prices swinging.

On Tuesday, US President Donald Trump warned Iran would be "hit very hard" if the route did not open "very soon". Deputy Foreign Minister Kazem Gharibabadi said the new corridor would be temporary, staying open for two to four months. Brent crude edged 0.3% lower to $79.24 on Thursday, the BBC reported.

"The factors making the Strait of Hormuz insecure still exist on the part of the United States, particularly the naval blockade and other aggressive and threatening actions against Iran and its interests."

Esmaeil Baqaei, Iranian foreign ministry spokesman

Miliband presses the case in Washington

The move came as Foreign Secretary Ed Miliband, serving under Prime Minister Andy Burnham, called reopening the strait "essential" to easing the UK cost of living while meeting US counterpart Marco Rubio in Washington.

With Iran insisting it is not negotiating with the US directly, the coming days will show whether the Oman route holds.