BlockBeats News, August 6th - Iranian Deputy Foreign Minister Abbas Araghchi stated that Iran and Oman are close to finalizing an agreement on the passage of commercial vessels through the Strait of Hormuz. The two sides plan to establish a new transit mode different from the past 60 years.

Araghchi noted that Iran has not engaged in direct negotiations with the United States at the moment. However, Iran has received messages from the U.S., indicating readiness to fulfill previously signed memorandums of understanding commitments. The market continues to monitor developments in the Hormuz situation and its impact on crude oil, gold, and safe-haven assets.