The dueling positions Washington and Tehran staked out showed how far apart the two sides remain even as both talked of winding down regional hostilities.

Oman and Iran remain locked in negotiations about the future of the Strait of Hormuz, potentially running past the Thursday time frame expected by President Donald Trump. The foreign ministries of both nations confirmed Thursday that the geographic coordinates for a maritime route through the strait have been agreed upon,

A cargo ship reports it has been hit by a projectile off the coast of Oman in the Strait of Hormuz. The United Kingdom Maritime Trade Operations Center says the report came overnight.

Oman’s statement appears to indicate that the negotiations over the Strait of Hormuz are moving forward positively, which could suggest a shift towards a resolution. Market pricing suggests a slight increase in optimism for a U.S.-Iran agreement by August 31, with YES odds currently at 49%, up from 34.5% for an earlier August 15 deadline.

Oman is using strategic ambiguity as talks over possible Strait of Hormuz fees raise legal, diplomatic and oil market concerns.

President Donald Trump signaled that the US will emphasize economic pressure on Iran as strikes remain on pause. Follow for live updates.

Trump on negotiations, Strait of Hormuz standoff, IRGC influence. Netanyahu rejects Gaza plan, Houthis attack Yemen port.

Israel on Sunday rejected a deal announced by U.S. President Donald Trump for Gaza. Details emerged on the potential deal between Iran and Oman on managing the Strait of Hormuz as Tehran suggested that vessels linked to “hostile countries” would be barred.