Iran and Oman have reached an agreement to ban American and Israeli ships from passing through the Strait of Hormuz. Iranian media reports that Iran has targeted enemy positions near the strait.

New details have emerged regarding the new navigation agreement in the Strait of Hormuz that Iran and Oman intend to sign, indicating Iran's goal to assert control over the strait. Furthermore, Iran has taken action against "hostile targets" near the strait. According to a report by the Iranian media FARS on Thursday, local time, the Iranian parliament is reviewing this agreement. Under the terms of the agreement, vessels from the United States and Israel will be prohibited from passing through the Strait of Hormuz, and nations that have "caused harm to Iran" will also be denied navigation permission in the strait. Following this announcement, market concerns over global energy transportation risks surged. In the latter part of Thursday's early trading session, U.S. stocks were seen rising, while international crude oil futures prices significantly increased, with U.S. WTI crude oil at one point surpassing $78 per barrel, up nearly 4% for the day; Brent crude oil approached $83 per barrel, gaining over 4%. Subsequently, state-run broadcaster CCTV reported that Iran is advancing a bill concerning the navigation rules in the Strait of Hormuz, which confirmed the content of the Iran-Oman agreement mentioned by the Iranian media. According to CCTV news, on local time June 6, Salimi, a member of the Iranian Parliament's presiding board, stated that Iran's National Security Council is currently reviewing a draft bill titled Strategic Actions to Ensure the Safety and Sustainable Development of the Strait of Hormuz and the Persian Gulf. The draft will: - Prohibit vessels from the U.S., Israel, and other hostile nations from passing through the Strait of Hormuz. - Ban goods related to Israel, whether military or civilian, from passing through the region. - Prohibit the passage of vessels or goods involved in actions against resistance forces. - Deny navigation permissions in the Strait of Hormuz and the Persian Gulf to nations and individuals that have caused harm to Iran until compensation is made. Violators of this law will face severe penalties, with fines of up to 20% of the value of the goods. The government will cooperate with armed forces to take on responsibilities such as navigation guidance, vessel traffic monitoring, and ensuring the safety and environmental protection of the Persian Gulf. According to CCTV, the draft of this bill is still under expert review, and the Iranian parliament has requested experts to submit improvement suggestions. On Thursday afternoon, during the U.S. stock market's midday trading, Iranian media FARS reported that Iran struck "hostile targets" in the Strait of Hormuz. Another Iranian media outlet, Tasnim, citing sources, claimed that two explosions heard from Qeshm Island were related to military actions against hostile targets near the entrance of the Strait of Hormuz. Subsequently, according to CCTV news, around 21:40 local time on June 6, two explosion sounds were reported from Qeshm Island. Iranian sources stated that the explosions were caused by strikes on hostile targets near the entrance of the Strait of Hormuz, with the results of this operation to be announced to the public in the coming hours. Following the news of Iran's actions against hostile targets, international crude oil prices continued to rise, reaching new daily highs. Brent crude approached $83.50, up nearly 5.1% from Wednesday's close, while WTI rose above $78.30, increasing by over 4.1%. Earlier on Thursday, Reuters reported, citing several shipping industry sources, that the proposed new navigation scheme by Iran and Oman is impractical on an operational level, facing numerous real-world obstacles regarding channel capacity, international shipping regulations, and insurance and legal responsibilities. Iranian media: Bi-directional navigation channels may be abolished entirely, with a central corridor to be managed by Iran Details from the agreement disclosed by FARS reveal that the new agreement not only concerns vessel access rules but will also completely restructure the existing navigation system in the Strait of Hormuz. Insiders have revealed that the northern and southern channels currently located on either side of Iran and Oman will be completely abolished, with all vessels required to use a central corridor in the future. Iran will be responsible for managing the entrance to the central corridor, while the exit will be managed jointly by Iran and Oman. Additionally, the agreement stipulates that vessels from the U.S. and Israel will be prohibited from passing through the Strait of Hormuz; nations that have "caused harm to Iran" will also be denied permission for navigation through the strait. If this proposal is ultimately implemented, it would mean the decades-old bi-directional separation channel (TSS) could be replaced by a new central navigation model, significantly enhancing Iran's practical control over vessels entering the Strait of Hormuz. Industry insiders: Single central corridor may not support current volume, and international shipping regulations pose barriers However, the shipping industry generally views the operability of this scheme with skepticism. According to several shipping, insurance, and maritime law analysts cited by Reuters, the current Strait of Hormuz handles approximately one-fifth of global maritime oil transport. The existing bi-directional separation channels have, after years of operation, met the safety requirements for large tankers navigating in both directions. Industry insiders believe that if the existing northern and southern channels are eliminated and all vessels are required to use the central corridor, it will immediately face capacity constraints. A single corridor may struggle to accommodate the current large volume of bi-directional shipping traffic, leading to severe congestion. Moreover, the internationally adopted channel system involves maritime security standards not easily adjusted unilaterally by Iran and Oman. If differentiated access based on the flag state is implemented, uncertainties surrounding commercial operations, insurance coverage, and international maritime legal liabilities will arise. Analysts from the shipping industry have indicated that this scheme is practically unfeasible from an operational perspective. However, analysts note that even if the proposal cannot be fully implemented, the policy signals released by the agreement are sufficient to heighten market concerns regarding transportation risks in the Strait of Hormuz, thereby providing a risk premium for international oil prices. Iran claims negotiations are limited to Iran and Oman, aiming to establish a new navigation model after 60 years Before FARS disclosed these details, CCTV news reported on Thursday, citing Iranian officials, that after more than a month of negotiations, Iran and Oman are about to finalize a new shipping arrangement for the Strait of Hormuz. According to CCTV, Goudarzi, spokesperson for the Iranian Parliament's presiding committee, stated that the new agreement aims to adjust the shipping routes in the Strait of Hormuz, with negotiations only taking place between Iran and Oman, and the U.S. is not permitted to participate. Iranian Deputy Foreign Minister Karibabadi previously indicated that the two sides are close to finalizing an agreement regarding commercial vessels' passage through the Strait of Hormuz. Under Iran's vision, both the northern channel within Iranian territorial waters and the southern channel passing through Oman's territorial waters will be closed, establishing a new navigation model distinct from the one that has existed for the past 60 years. Karibabadi also denied that Iran is currently in negotiations with the U.S., but stated that Iran has received messages from the U.S., indicating their willingness to resume compliance with previously signed memorandum commitments. Pakistan hopes the agreement will facilitate a restoration of technical dialogue between the U.S. and Iran Meanwhile, regional diplomatic mediation continues. According to CCTV news, on local time August 6, Pakistan's Foreign Ministry spokesperson Andlebi expressed hope that the agreement concerning the Strait of Hormuz would create conditions for continued dialogue between the U.S. and Iran and influence both parties to restore technical-level negotiations. Andlebi stated that Pakistan will continue to communicate with relevant countries regarding the Strait of Hormuz issue and the situation in the Middle East, supporting diplomatic dialogue to ease regional tensions. Currently, the new agreement concerning the Strait of Hormuz is still in the finalization phase, with considerable uncertainty remaining regarding the specific implementation methods, acceptance by the international community, and whether it will be realized. However, as the details of the agreement continue to emerge, the Strait of Hormuz, the world's most crucial energy transportation route, once again becomes an important risk variable affecting international oil prices and the global shipping market.