Iran and Oman have advanced bilateral talks on designating safe navigational corridors and route coordinates through the Strait of Hormuz, with agreements reached in early October 2026 on maps, traffic management, and submission to the International Maritime Organization. Iranian officials have stated explicitly that these arrangements do not constitute reopening the strait or ending restrictions, and remain conditioned on U.S. implementation of prior commitments under the Islamabad Memorandum of Understanding. A U.S.-enforced blockade on Iranian ports and compliant Hormuz transits continues in effect, with commercial traffic at roughly 10% of pre-crisis levels amid ongoing attacks on vessels and Iranian requirements for permits or coordination. These factors sustain trader expectations that the blockade will persist independently of further Iran-Oman framework progress.