Iran and Oman maintain close diplomatic and economic ties, including recent growth in bilateral trade and joint efforts to manage navigation through the Strait of Hormuz under interim agreements. However, trader sentiment on potential Iranian targeting of Oman reflects ongoing regional tensions tied to US military presence at Omani ports such as Duqm and Salalah, which have faced reported strikes and drone incidents since early 2026 as part of broader maritime disputes. Recent developments include IRGC claims of attacks on tankers near Omani waters in early November, alongside high-level talks on safe commercial transit routes and sovereignty over territorial waters. These dynamics, combined with any escalation in Gulf shipping incidents or US-Iran exchanges, shape assessments of further direct actions against Omani territory or facilities within the market's timeframe.