The Sultanate of Oman has co-ordinated with the International Maritime Organisation (IMO) to establish a temporary maritime corridor for vessels transiting the Strait of Hormuz, said a report. It will be available to all vessels based on navigational co-ordinates announced by IMO and Omani authorities.
At least 13 people have been killed and 66 injured after an explosion at Qatar's largest gas facility in Ras Laffan industrial zone on Sunday night, according to the country's interior ministry. The blast occurred as workers were restarting operations that were previously halted in March.
The US and Iran have signaled that an agreement to end their war was close, with a senior US administration official saying both sides had agreed on a text and that Washington expects to sign an initial deal soon, said media reports. Hours after the White House statement on the deal, the US military had it had downed multiple Iranian drones near the Strait of Hormuz.
Oil prices eased slightly on Tuesday after jumping about 6% yesterday following increased hostilities in the Strait of Hormuz.
US President Donald Trump said his patience with Iran was running out and that Chinese President Xi Jinping had agreed during their talks in Beijing that Tehran must reopen the Strait of Hormuz.
A Reuters survey showed that oil output Opec fell to a more than 20-year low in April, dropping 830,000 barrels per day to 20.04 million bpd as Strait of Hormuz disruptions linked to the US-Israeli conflict with Iran hit exports.
The Strait of Hormuz crisis threatens global stability, food security, and the foundational principles of international law, said Bahrain's Minister of Foreign Affairs, calling for urgent international action.
Saudi Arabia's National Shipping Company Bahri has delivered solid results for the first quarter of 2026 with a 129% growth in its revenue which soared to SAR4.96 billion ($1.32 billion) driven primarily by higher freight rates, while its net profit surged to hit SAR2.15 billion ($572 million).
US President Donald Trump said Iran had indicated it was in a “state of collapse” and was seeking the urgent reopening of the Strait of Hormuz, even as efforts to end the two-month conflict remained deadlocked.
Conflict between the US, Israel and Iran has disrupted Strait of Hormuz shipping, exposing limited export alternatives. Existing pipelines offer partial relief, while proposed routes face major political, security and financial challenges.
