Iran's Control Over Strait of Hormuz Traffic Prolongs Global Commodity Market Risks
Iran is negotiating a deal with Oman to control inbound traffic through the Strait of Hormuz, a critical chokepoint for global energy and fertilizer supplies. This move comes amid ongoing geopolitical tensions involving the U.S., Israel, and Iran, which have largely blocked the strait since February. The proposed plan would allow Iran operational control over vessels entering the Gulf, with shared oversight of outbound traffic. Despite talks of reopening, the arrangement is expected to maintain elevated risks for freight, insurance, and commodity prices. The strait's partial closure has already disrupted crude oil, LNG, and fertilizer flows, affecting global markets. 
