The comments add a layer of specificity to the Iran-Oman track without resolving the broader uncertainty markets have been pricing around Hormuz. Confirmation that Iran and Oman have settled on a shipping corridor, split between each country's territorial waters, supports the narrative of incremental progress that has weighed on crude this week. However, Rezaei's insistence that full use of a central channel depends on a separate memorandum with Washington, and that ending the regional war is among Iran's conditions, keeps a meaningful risk premium in place. Traders are likely to continue treating the Oman agreement as a technical, partial step rather than a signal that normal Hormuz traffic volumes are imminent, particularly given the more hardline conditions aired separately by Iran's Revolutionary Guards over the same period.---Iran has a shipping corridor deal with Oman, but says the wider Strait of Hormuz question remains hostage to a separate set of conditions aimed at Washington.Summary:Mohsen Rezaei, secretary of Iran's Supreme National Security Council, said Tehran is preparing a formal list of conditions for reopening the Strait of Hormuz, at the request of mediators.Ending the regional war is among the conditions on that list, according to Rezaei.Iran and Oman have reportedly agreed on a shipping corridor through the strait, with sections of the route running through each country's territorial waters.Rezaei said ships would be able to use a designated central channel once the US meets Iran's conditions, implying current transit remains temporary or restricted pending a memorandum of understanding with Washington.The comments came via an interpreter in an interview with Al Manar TV.Separately, a Revolutionary Guards spokesperson said this week that Iran would not allow the strait to fully reopen unless the US lifts its blockade of Iranian ports, pays compensation, and removes sanctions, a more hardline set of terms running alongside Rezaei's comments.Iran is preparing a formal list of conditions it wants met before it will allow the Strait of Hormuz to reopen fully, according to Mohsen Rezaei, secretary of the country's Supreme National Security Council, who said Tehran is compiling the document at the request of mediators involved in ongoing talks. Speaking through an interpreter in an interview with Al Manar TV, Rezaei said ending the broader regional war is among the conditions Iran intends to present to the United States.Rezaei's comments came alongside confirmation that Iran and Oman have reached an agreement on a shipping corridor through the strait, with the proposed route split between sections of Omani and Iranian territorial waters. That arrangement appears to build on earlier reporting this week that Iran's Revolutionary Guards had said the two countries had agreed on how to share control of the strait and its associated revenues, suggesting the technical details of the Iran-Oman track are advancing even as the broader political conditions remain unresolved.Central to Rezaei's remarks was a distinction between the corridor arrangement with Oman and a separate, more consequential channel. He said ships would be permitted to use a designated central channel through the strait only once the United States meets Iran's conditions, tying that fuller access to a memorandum of understanding still to be negotiated between Tehran and Washington. That framing suggests any current or near-term transit arrangements, including the corridor agreed with Oman, fall short of restoring normal shipping patterns through the waterway, with the central and evidently more heavily used channel held back as leverage pending a wider political settlement.The remarks sit alongside a notably more hardline position aired earlier in the week by a spokesperson for Iran's Revolutionary Guards, who said Iran would not allow the strait to reopen unless Washington lifts what Tehran describes as a blockade of Iranian ports, pays compensation for damages, and removes sanctions on the country. Whether Rezaei's list of conditions, once finalised, aligns closely with those demands or represents a somewhat narrower set of asks was not made clear in his comments, and the apparent gap between the two sets of statements underscores the difficulty of reading a single, coherent Iranian negotiating position from the flow of official commentary.The Strait of Hormuz remains one of the most closely watched flashpoints in global energy markets, given its role as a corridor for a substantial share of the world's seaborne oil and liquefied natural gas trade. Rezaei's acknowledgement that mediators have specifically asked Iran to formalise its conditions marks a procedural step forward, suggesting diplomatic channels remain active even as the practical outcome, full reopening of the strait to normal traffic, continues to be contingent on a broader de-escalation that has so far proven difficult to secure. Markets will likely look for confirmation of the specific contents of Iran's list once it is presented, as well as any initial US response, for clearer signals on the pace and durability of any easing in regional shipping risk. This article was written by Eamonn Sheridan at investinglive.com.