An explosion was reported near a tanker off the coast of Oman on Sunday, according to the United Kingdom Maritime Trade Operations (UKMTO). The incident occurred approximately 20 nautical miles northeast of Khasab.

UKMTO confirmed that all crew members and the vessel were safe following the event. Maritime authorities have launched an investigation into the cause of the explosion.

The agency has advised all vessels transiting the area to exercise caution and to report any suspicious activity immediately.

This maritime security scare coincides with Iranian Foreign Minister Abbas Araghchi’s statement that negotiations with Oman over the management of the Strait of Hormuz are nearing completion. He updated the Cabinet on Sunday, noting that the talks were in their final stages, though he withheld further details.

Iranian Foreign Ministry spokesperson Esmaeil Baqaei elaborated on state television that an understanding with Oman over a revised shipping lane was imminent. He explained that the route would not be strictly northern or southern but one that respected the sovereign rights of both sides while safeguarding national interests and security.

Baqaei clarified that any agreement with Muscat would not automatically mean the full reopening of the strategic waterway.

The dispute over transit rights through the Strait of Hormuz triggered the latest round of military strikes last month after Tehran restricted shipping to a channel hugging the Iranian coastline.

Maritime intelligence firm Kpler reported on Friday that vessel movement through the Strait of Hormuz had sharply declined.

These developments coincide with US President Donald Trump’s announcement that Washington and Israel had agreed to defer planned military strikes on Iran. He stated that the parameters of a potential agreement had been established.

Military hostilities between the US, Israel, and Iran erupted on 28 February following surprise joint strikes on Iranian targets. Subsequent rounds of diplomacy produced fragile periods of calm.

Fears of renewed escalation surged last month after strikes resumed. Trump had previously threatened to target Iran “very hard,” with reports suggesting possible strikes on key energy infrastructure. American diplomatic missions across the Middle East were placed on high alert.

However, Trump signalled a shift in strategy after intense diplomatic engagements. Speaking aboard Air Force One, he confirmed that negotiations with Iran, through intermediaries, were scheduled to begin on Monday afternoon.

He remarked that he preferred making a deal rather than continuing military action, emphasising that unnecessary loss of life should be avoided. Trump said Iran and other regional states had requested the pause in attacks.

The US President revealed that diplomatic engagements involving Saudi Arabia, the United Arab Emirates, Qatar, and Iran had led him to halt what was originally planned as a massive strike. He highlighted a key conversation with Saudi Crown Prince Mohammed bin Salman.

On his Truth Social platform, Trump elaborated that Iran and other Middle Eastern countries had asked the US to hold off any attack, claiming that the parameters of a deal had been agreed.

He added that he had cancelled the attack for the future benefit of the world and the survival of a prosperous Iran, subject to being able to rapidly conclude a deal.

Iranian media outlets, however, refuted claims that Tehran had requested a pause in American military action.

The Strait of Hormuz remains central to these diplomatic efforts. Prior to hostilities, the waterway permitted unhindered commercial transit. Following the conflict’s onset, Iran shut the passage, demanding oversight and transit tolls, which Washington rejected.

Trump outlined conditions for any resolution, insisting that a final agreement must include the immediate, complete, and total opening of the Strait of Hormuz, alongside an end to Iran’s nuclear threat.

At the start of the conflict, the US administration maintained that military action was necessary to neutralise Iran’s nuclear ambitions. Western powers argue that Tehran is pursuing nuclear weapons capabilities, while Iranian authorities insist the program is strictly civilian.

Trump further indicated that an agreement could be reached on the management of the Strait of Hormuz, while asserting that an accord would also address Iran’s denuclearisation.

ANI