Amid rising geopolitical tensions, the Strait of Hormuz remains central to global energy security, but not in the way many headlines suggest. Oman’s role is not one of control or opportunism, but of responsibility, stability, and adherence to international law.
The Strait has never been the domain of a single actor. Its management has always been a shared responsibility between Oman and Iran, guided by established international maritime frameworks. The objective is clear: ensure safe and uninterrupted passage for global shipping, not to extract leverage or impose unilateral authority.
Speculation around joint “control” or revenue-sharing arrangements misrepresents reality. Discussions between Oman and Iran are not new, nor are they transactional. They are part of an ongoing dialogue focused on maintaining stability and reducing escalation. It is not within our mandate, or interest, to dictate terms to international shipping. That said, the risks are real. Escalation could push the Strait into a state of uncertainty not necessarily full closure, but selective disruption. In such circumstances, Oman’s role becomes even more critical, acting as a stabilizing force to help keep flows moving and tensions contained.
Looking ahead, the outlook remains fragile. Brent crude prices are likely to remain elevated this week, potentially around $120, as long as tensions persist. Ultimately, direction will depend on diplomacy. In this environment, steady engagement and commitment to stability are not optional, they are essential.