Iran and Oman have advanced discussions on a possible transit arrangement for the strait, according to regional officials cited by multiple news outlets on Tuesday.
Under the proposal, ships would enter the Persian Gulf through an Iranian-controlled route and exit through an Omani-controlled route, with fees potentially charged for security and environmental services.
The officials reportedly said any agreement could be linked to lifting a US blockade on Iranian ports.
However, Washington has said it wants to restore the previous arrangement in which no country controls shipping lanes.
US President Donald Trump said Monday he opposed any tolls on vessels using the strait, warning: "I'm not going to let them charge. Anybody's going to charge, we'll charge."
Diplomats also reportedly said internal divisions in Tehran remain a challenge, with some officials supporting a deal while hardliners oppose concessions to Washington.
Separately, US, Qatari and regional officials said Tuesday that diplomatic efforts to restore a ceasefire in the US-Iran conflict and reopen the Strait of Hormuz were making progress, raising hopes of a breakthrough, multiple news outlets reported.
Qatar, Pakistan and Oman have been mediating between the US and Iran, exchanging proposals aimed at reviving a ceasefire memorandum signed in June and restoring shipping through Hormuz.
Qatar's Foreign Ministry spokesman Majed al-Ansari reportedly said negotiations had reached "very progressive stages," while a senior Pakistani official said efforts were focused on bringing both sides back to direct talks.
The Ministries of Foreign Affairs in Iran, Qatar, Pakistan, as well as Oman's Foreign Ministry, and the White House did not immediately respond to' request for comment.