Iran and Oman reached an agreement on October 7-8, 2026, on geographical coordinates for designated safe two-way shipping routes through the Strait of Hormuz and mechanisms for notifying the relevant international maritime body. Iranian officials have repeatedly stated that this framework does not reopen the waterway or restore normal traffic. Reopening remains conditioned on the United States lifting its naval blockade of Iranian ports, ending related sanctions on oil exports, and meeting other commitments under prior understandings. The blockade, reimposed in July after the prior ceasefire collapsed, continues to restrict commercial access to Iranian ports with no verified lift or major diplomatic breakthrough in the past month. These factors support trader consensus that the blockade will not be lifted ahead of the bilateral routing accord.