While Iran and Oman appear to be nearing an agreement to manage traffic through the Strait of Hormuz, Iranian officials are now warning that the deal will not fully reopen the crucial waterway.

Shipping traffic through the Strait of Hormuz has dwindled to 33 vessels from Monday to Thursday this week, data showed, ​versus 50 in the week-ago period, as markets watched talks ‌between Iran and O...

Introducing compulsory charges through the strait for ​transit or service fees was "a toll in all but name", the letter said, which was sent to the UN's shipping agency.