Iran and Oman close to a deal to reopen Strait of Hormuz with service fee

There are hopes the US can reach a deal with Iran over the Strait of Hormuz after officials claimed progress has been made. US Treasury Secretary Scott Bessent believes the deal could be achieved imminently. This comes as Iran and Oman claim they are close to a deal to reopen the Strait of Hormuz, which would see both countries collect a service fee which is said to cover environmental and security costs.