Recent maritime incidents in the Strait of Hormuz, including reports of vessels struck by projectiles or mines near Oman's coast in late October 2026, have heightened scrutiny of Iranian actions toward Omani-adjacent waters. Iran’s Islamic Revolutionary Guard Corps has asserted control over navigation routes, rejecting certain Omani or IMO-proposed paths as unauthorized while advancing bilateral talks with Muscat on coordinated arrangements. Oman continues its neutral mediation role between Tehran and Washington, including calls for a regional non-aggression pact, amid ongoing compliance disputes over ceasefire terms and shipping access. These dynamics shape trader assessments of escalation risks versus diplomatic continuity through November.