AGP Executive Report

Strait of Hormuz Talks: Iran and Oman say they’ve agreed key geographical coordinates for a proposed commercial shipping route, with a joint statement in the final drafting stage—though Tehran stresses it does not mean a full reopening yet and links any wider resumption to US actions. Market Pulse: The Hormuz headline flow is still moving global risk sentiment: oil trades around the $80 area on hopes of de-escalation, while gold hits a seven-week high as investors price in softer rate expectations. Shipping & Costs: With passage uncertain, LNG and broader maritime costs remain elevated, and reports suggest only a small number of vessels have transited recently. Oman in the Spotlight: Oman’s role as a mediator is repeatedly cited as talks progress, while Iran’s position on route control and possible fees keeps shipowners and markets watching closely. Industry Move: ASYAD Shipping named its new oil products tanker “Manah,” reinforcing Oman’s logistics push with a more efficient, sustainability-focused fleet. Business Calendar: Oman Climate Week 2026 is set for 14–16 September in Muscat, aiming to draw policymakers, investors and industry on climate solutions.

Strait of Hormuz Shipping Deal: Iran says it has agreed the geographical coordinates for a new commercial route with Oman and is finalising a joint statement on jointly managing the waterway, but Tehran insists reopening depends on the US ending its naval blockade and stopping attacks—so the strait may still not be “safe” for all vessels. US-Iran Negotiations: President Donald Trump claims an agreement could be announced “very soon” and this week, after an “all-day negotiation,” while Iran rejects direct talks with Washington and says the arrangement is with Oman. Trade and Energy Impact: Markets stayed jittery but steadier as hopes of reopening eased oil fears; Brent hovered around the high-$70s as shipping disruptions and Red Sea risks continue. Regional Security Pressure: Iran warned Gulf states that any new US attack would trigger retaliation against regional energy infrastructure, while Houthis again targeted Saudi shipping, keeping insurers and shipowners cautious. Oman Business Angle: For Oman, the deal keeps attention on maritime services and logistics demand, even as the wider crisis continues to shape regional trade flows.

Strait of Hormuz Talks: US Treasury chief Scott Bessent said there’s a “chance” a deal to reopen the Strait of Hormuz could be reached “today or tomorrow,” with Trump echoing that an announcement may come Wednesday or Thursday as Iran and Oman edge toward a 60-day shipping arrangement. Oman-Iran Focus: Iran’s foreign ministry and officials insist talks are only with Oman, centered on safe transit lanes and mine-clearing, while also warning the strait won’t reopen if US “violations” continue. Markets & Energy: The diplomatic optimism helped push oil lower (Brent slipping below $80) and lifted equities in Europe and Asia, while gold jumped on softer inflation expectations. Shipping Risk Still High: Maritime incidents continue to rattle trade, including reports of a projectile hitting a vessel near Oman and renewed attacks in the Red Sea. Oman Business & Connectivity: Oman Air launched five new cargo routes in one week (Singapore, Tashkent, Sochi, Abu Dhabi and Salalah) to boost time-sensitive freight. Tourism Move: Oman introduced a free 14-day tourist visa for eligible nationalities to make short trips easier. Local Projects: SSH was appointed construction supervision consultant for Oman’s Sayyid Tarik bin Taimur Cultural Complex in Al Seeb, Muscat. Trade Links: Oman and Nepal discussed partnerships in trade, food security, water and traditional industries at an OCCI business forum.

Strait of Hormuz Diplomacy: Qatar says mediators have drafted a proposal and are making progress to reopen the Strait of Hormuz, while US Treasury chief Scott Bessent told CNBC there’s a “chance” of a deal “today or tomorrow” (by Aug 5), and Iran’s foreign ministry says talks with Oman are “positive,” focused on safe inbound and outbound lanes. Oman-Iran Shipping Talks: Oman and Iran are reportedly moving toward an interim arrangement where ships enter via an Iranian-controlled route and exit via an Oman-controlled route, with service fees tied to security and maritime protection, but any final deal appears linked to lifting the US blockade on Iran’s ports. Markets & Energy Impact: Optimism around Hormuz reopening helped push US stocks to fresh records (Dow and S&P 500), while Brent slid below $80 as crude traders priced in easing shipping disruptions; LNG bunker prices also eased as risk premiums softened. Shipping Risk On the Ground: Despite diplomacy, maritime incidents continue, including a projectile strike reported near Oman and ongoing US enforcement actions that redirected dozens of vessels under the blockade. Oman Environment Watch: An oil spill from a stranded tanker off Oman is reported to have expanded sharply, raising concerns for protected coastal areas.

Strait of Hormuz Talks: Iran and Oman are nearing an agreement to reopen Strait of Hormuz shipping, with a proposed setup that would route inbound traffic through an Iran-controlled channel and outbound traffic via an Oman-controlled lane, using a “service fee” model instead of tolls—though the US disputes key details and says any routes would be temporary and not require Iran’s permission. US-Iran Rhetoric Clash: Donald Trump says talks are “going on right now” and warns Iran has a “last chance” before “decapitation,” while Iran’s foreign ministry insists there are no negotiations with the US and that discussions are only with Oman on a temporary maritime corridor. Maritime Security: A cargo vessel reported being hit by an unknown projectile about 20 nautical miles northeast of Al Khasab, Oman, prompting UKMTO warnings and renewed caution for ships. Oman Logistics Boost: Oman Air Cargo launched five new routes in one week—Muscat to Singapore, Tashkent, Sochi and Abu Dhabi, plus Salalah–Dubai—aimed at improving Asia connectivity and cold-chain/perishables capacity. Markets Watch: Oil rebounded modestly after sharp drops as traders weigh Hormuz uncertainty, while gold stayed range-bound amid geopolitical and rate outlook jitters.

Oman Economy Watch: Oman’s agriculture and fisheries sectors grew in Q1 2026, with GDP at constant prices rising 6.1% to about RO 337.8m, driven by stronger farm output (+12.0%) and steady fishing (+0.9%). The sector’s contribution to total GDP climbed to 3.4% from 2.9% a year earlier. Strait of Hormuz & Shipping: US President Donald Trump said talks with Iran are ongoing and framed them as a “last chance” to reopen the Strait of Hormuz, even as Iran’s foreign ministry denied direct US negotiations and said discussions are only with Oman on a temporary safe corridor for commercial vessels. Energy Markets: Oil prices slid about 5% to a three-week low after Trump paused a fresh Iran attack, while markets weighed Hormuz reopening hopes against continued uncertainty. Corporate Pressure: Trump also urged ExxonMobil and Chevron to cut US fuel prices, criticizing their profits amid the Iran-war-linked supply squeeze.

Hormuz Talks, Oman in the Driver’s Seat: Iran says it is not negotiating with the US, but is working with Oman to set up a “temporary route” in the Strait of Hormuz to keep shipping safe, while Tehran insists the strait won’t fully reopen while US strikes and a naval blockade continue. Trump De-escalation, No Deadline: US President Donald Trump says fresh US-Iran talks will begin Monday afternoon, aiming to reopen Hormuz and address Iran’s nuclear threat, but he declined to set a timeline. Markets React: Oil slid sharply after the strike pause and talk optimism, with Brent down about 5% to around $83 and WTI down about 6% to near $80. Shipping Still on Edge: New near-misses and threats around Oman and the Strait of Hormuz underline that risk hasn’t disappeared, even as diplomacy heats up. OPEC+ Supply Call: OPEC+ is set to raise September output by 188,000 bpd, a move traders are watching for any impact on fuel prices if Hormuz disruption eases. Retail Tech for Oman: Zoho launched its VAT-compliant Zoho POS across GCC markets including Oman, targeting retailers modernising billing, inventory and omnichannel operations.

Hormuz Diplomacy: Iran says talks with Oman on Strait of Hormuz shipping management are in the final stages, with Tehran insisting any arrangement won’t restore pre-war conditions and that a new route under a traffic separation scheme is being shaped. US-Iran De-escalation: Trump says he will pause planned strikes if a deal is rapidly reached, while Iran rejects claims that it asked for the halt and keeps its forces on high alert. Shipping Under Pressure: Recent incidents include a LNG carrier disabled after an unknown projectile hit near Oman, underscoring how quickly the corridor can disrupt energy logistics. Oman Energy & Industry: Marafiq will invest in a new industrial desalination plant in Al Duqm to supply water for Meranti Green Steel’s green iron project, linking utilities expansion to industrial growth. Oman Business Climate: OCCI highlights rising commercial registrations in Al Wusta, nearing 7,000, as SMEs and investors push new projects. Oil Markets: OPEC+ approved a September output increase of 188,000 bpd, but analysts warn the Strait of Hormuz constraints still limit near-term market impact.

Middle East Energy Diplomacy: US President Donald Trump says he will hold off on new strikes against Iran, claiming allies have reached “broad outlines” for a deal that includes the immediate, complete and total reopening of the Strait of Hormuz and an end to Iran’s nuclear threat—though Iran has denied being the one to request the pause. Regional Security & Travel: US embassies across the Middle East, including Oman, urged Americans to consider departing or be ready to leave due to possible “unforeseen escalation,” with warnings of flight cancellations and airspace closures. Shipping Risk for Oman: A new study warns that stalled vessels around Hormuz could become “super-spreaders” for invasive marine species once traffic resumes, raising biosecurity concerns for ports across the world. OPEC+ Oil Outlook: OPEC+ is set to approve a September quota increase of about 188,000 bpd after unwinding voluntary cuts, with Oman among the core members. Oman Business & Trade: The Al Jabal Al Akhdar Festival drew over 100,000 visitors by end of July, boosting SMEs and local farmers; meanwhile, the 9th Omani-Bahraini Products Exhibition opened in Salalah to strengthen SME trade links.

Middle East Security: US embassies across the region, including Oman, urged Americans to consider leaving or be ready to depart amid “unforeseen escalation” as Trump threatens fresh strikes on Iran and Tehran warns of “decisive” retaliation. Shipping & Energy Risk: UKMTO reported two tanker incidents near Oman/Strait of Hormuz—one hit by an “unknown projectile” with engine-room damage—while Iran signals wider disruption to choke points. Oman Energy Update: Oman’s oil output rose 10.6% and natural gas 6.7% in H1 2026, with oil at 198.01m barrels by end-June. Maritime Environment Watch: Satellite images reviewed by AP show crude leaking from a sanctioned tanker grounded off Oman’s Dhofar coast, spreading an oil sheen near the Hallaniyat Islands marine reserve. Industrial Push: Madayn said Ibri Industrial City attracted about RO25m in investments in H1 via 17 agreements, supporting Oman Vision 2040 diversification. Trade Enforcement: US Trade Fraud Task Force surpassed $1bn in recoveries and charged losses, targeting customs mislabeling and transshipment schemes.

Strait of Hormuz Shipping Under Strain: UKMTO says two separate tanker incidents off Oman—near Lima and Khasab—were hit by an “unknown projectile,” with engine-room damage reported in one case and no casualties or environmental impact in either, as traffic remains thin and operators keep extra caution. Diplomacy vs Escalation: Iran’s FM Abbas Araghchi warned Britain against any US-linked military cooperation, while Iran says it is working with Oman on operational mechanisms to manage Hormuz navigation and warns third parties against interfering. Energy Market Watch: Oil prices edged up after reports some tankers were forced to turn back in Hormuz, keeping supply-risk premiums elevated as talks continue. Oman Economy & Energy Data: Oman’s natural gas production rose 6.7% to 29.54 billion cubic metres by end-June, with higher industrial and power-generation consumption. Markets in Muscat: The Muscat Stock Exchange main index resumed its rise, gaining about 160 points to close at 7,277, supported by retail buying and improved H1 profits. Tourism & Hospitality: InterContinental Muscat earned Green Key certification, and Swiss-Belhotel opened Swiss-Belhotel Nizwa, adding to Oman’s GCC hotel pipeline.

Oman & Gulf Shipping: A Reuters report says a sanctions-hit tanker, the Caroline Bezengi, is leaking oil off Oman and the slick has spread, raising fears for protected coastal areas as monsoon weather could worsen the damage. Strait of Hormuz Watch: Iran’s IRGC claims it stopped two oil tankers and that four others turned back, while US CENTCOM again insists the Strait of Hormuz remains open for commercial transit. Energy Markets: Oil prices rose Friday after the latest Hormuz disruption claims, with Brent ending July up sharply; meanwhile, Fujairah fuel oil stocks are up versus June, but bunker availability is tightening amid renewed hostilities. Red Sea Security: Saudi Arabia is leading a 14-nation maritime defense coalition to protect Red Sea energy routes and corridors around Bab el-Mandeb and the Gulf of Aden. Diplomacy for Trade: India’s Jaishankar urged Iran to avoid attacks on commercial shipping and seafarers, as regional tensions keep disrupting maritime operations. Oman Business & Tourism: InterContinental Muscat earned Green Key certification, and Swiss-Belhotel opened Swiss-Belhotel Nizwa, expanding international hospitality in Oman. Industry Projects: Marafiq will supply water for Meranti’s Oman green iron project, supporting industrial growth tied to decarbonisation.

Oman Energy & Shipping: Oil prices slipped more than 1% as more vessels moved through key chokepoints, but Strait of Hormuz traffic stayed thin (only two tankers transiting), while Oman-Iran talks on managing the route continued amid Iran’s rejection of joint control. Oman Renewables: Nama PWP invited bids for financial and commercial consultancy to develop and procure three 1GW Solar 2030 utility-scale IPPs (3GW total), aiming to diversify power supply and expand clean generation. Oman Jobs: Oman launched a National Employment Policy targeting 300,000 direct jobs for Omani nationals by 2030, with 60,000 jobs annually and a push to better match skills to employer needs. Regional Maritime Security: Saudi Arabia moved to form a multinational maritime defence coalition to protect Red Sea and Bab el-Mandeb shipping; Oman and the UAE were not listed among supporting countries. Business & Contracts: L&T’s hydrocarbon onshore arm won a six-year EPC framework with Petroleum Development Oman, reinforcing In-Country Value support. People & Safety: India told Parliament 16 nationals (including 10 seafarers) have died in the West Asia crisis, with 75 injured; Oman was among the locations cited.

Strait of Hormuz diplomacy: Oman and Iran are still trading proposals to manage Strait of Hormuz traffic, with Iran reportedly rejecting a 50-50 joint plan and offering a new arrangement that would give Iran control in one direction and Oman oversight in the other—fuelled optimism has helped ease oil prices at points, even as hostilities keep flaring. Shipping reality check: Despite renewed tensions, Hormuz traffic has edged higher in recent days, with Kpler data showing 14 commodity vessels transiting both ways on July 29, while analysts warn crude exports remain impaired by security risk and war-risk insurance. Red Sea security push: Saudi Arabia unveiled a multinational maritime defence coalition to protect shipping around Bab el-Mandeb, the Red Sea and Gulf of Aden, with 14 founding states and plans discussed with 43 countries plus the EU—Oman and the UAE were notably absent from the signatories. Regional escalation: The wider Iran-US conflict is driving new fronts across the Middle East, including strikes and drone incidents that are raising fresh concerns for energy routes. Oman business & industry: Muscat Stock Exchange-listed industrial firms reported strong H1 profit growth, while Raysut Cement moved to centralise quarry management under a subsidiary to boost efficiency and value. Tech and cooperation: Bangladesh and Oman held talks to expand collaboration in AI, drone technology, agri-tech, food security and joint research. Oman aerospace milestone: Advanced Rocket Technologies and Aqtar Space Technologies completed Oman’s first commercially built solid rocket motor static fire test at Etlaq Spaceport.

Middle East Conflict & Shipping: The US resumed a “heavy wave” of strikes on Iran after Tehran’s missile attack on US forces in Jordan, hitting dozens of IRGC targets including command centers and drone facilities; Iran said the strikes killed people on Qeshm Island, while Jordan intercepted five missiles. Energy Markets: Oil prices eased after earlier spikes as tankers kept moving, but Strait of Hormuz traffic stayed sharply reduced, keeping supply-risk nerves high. LNG & Trade Routes: Qatar sent its first LNG shipment through Hormuz since a tanker attack, signaling possible resumption of deliveries, though broader war risks remain. Oman–Hormuz Talks: Iran rejected Oman’s proposal for joint oversight of the Strait of Hormuz and instead floated a counterplan giving Tehran more control, keeping negotiations tense. Oman Business & Industry: Oman’s MoFA signed an MoU with OMANBAPA to set up an organic fertiliser plant using crop residues to boost soil health and food output. Corporate Results: Adnoc Drilling posted record Q2 profit and reaffirmed guidance, while Shell reported a 70% jump in half-year profits and said it will continue its buyback. Consumer & Safety: Oman’s Consumer Protection Authority warned about a Flying Tiger toy due to a potential choking hazard. Maritime Labour: About 1,000 Filipino seafarers remain stuck in the Strait of Hormuz as disruptions drag on.

Middle East Security & Energy: The US said it intercepted an Iranian missile barrage and, with Saudi forces, struck Iran-backed militia sites in Iraq after Tehran resumed attacks, killing at least 20 fighters and six Iranian advisers; the flare-up also coincided with drone strikes that sparked fires at Egypt’s Damietta port, hitting a US-owned LNG floating storage tanker and spreading to another vessel—raising fears the conflict is widening beyond the Gulf. Hormuz Diplomacy: Oman’s Gulf-backed proposal for joint management and voluntary shipping fees for the Strait of Hormuz was rejected by Iran, which reiterated it wants control over key navigation lanes, keeping shipping and insurance risks elevated. Markets Watch: Oil jumped back above $90 a barrel as war risk and supply fears returned, while the dollar softened after the Fed held rates steady. Oman Business Angle: Amid the regional disruption, Oman continues pushing renewable energy and green fuels, positioning exports outside the Strait of Hormuz to reduce exposure to chokepoint shocks. Shipping & Logistics Risk: US accusations against Iran’s IRGC for intimidating commercial ships in Hormuz added to uncertainty for operators, as traffic remains constrained and rerouting costs rise.