Iran, Oman propose joint control of Strait of Hormuz amid toll concerns

Iran and Oman have proposed joint control of the Strait of Hormuz due to toll concerns, a move that could trigger global trade disruptions and legal challenges. Simultaneously, the maritime region faces escalation as a Qatari gas tanker, Al Rekayyat, was set on fire near the coast of Oman. These events exacerbate global energy market instability and highlight critical vulnerabilities in maritime trade security, potentially impacting strategic routes and overall economic stability during the 2026 crisis.