The oil market has been sold heavily for two days on speculation there is more progress on a deal than announced. A strong sign comes today with Iran and Oman agreeing on a shipping lane in the past few minutes and a joint project to clear mines. The US seemed to front-run the announcement with Trump saying that mines are already clear.The joint statement says (translated):His Excellency Sayyid Badr bin Hamad bin Hamood Al Busaidi, Minister of Foreign Affairs, paid a working visit to the Islamic Republic of Iran, during which he held constructive consultations with his Iranian counterpart, His Excellency Dr. Seyed Abbas Araghchi.The consultations focused on the importance both countries attach to the resumption of safe navigation through the Strait of Hormuz, in a manner that safeguards their sovereignty and sovereign rights. The two ministers discussed a phased framework that could provide a practical and implementable basis in light of the current situation in the Strait resulting from the recent war and its tragic consequences.The proposed framework includes the establishment of a temporary joint maritime navigation corridor through the Strait of Hormuz, as well as an agreement to carry out a joint project to clear mines from the Strait. Technical negotiations between the two sides will also continue with the aim of reaching an agreement on a permanent navigation corridor and future arrangements for the management of the Strait, alongside establishing a mechanism for exchanging information, managing maritime traffic, and providing the related navigational and security services.In this context, the two sides affirmed the importance of holding joint discussions with the countries of the region bordering the waters of the Gulf. They also stressed the necessity of adhering to the provisions of international law and respecting the sovereign rights of coastal states. This article was written by Adam Button at investinglive.com.