Strait Of Hormuz To Reopen Soon? US, Iran May Strike Deal Within Hours, Says Trump Official
News world Strait Of Hormuz To Reopen Soon? US, Iran May Strike Deal Within Hours, Says Trump Official Strait Of Hormuz To Reopen Soon? US
News world Strait Of Hormuz To Reopen Soon? US, Iran May Strike Deal Within Hours, Says Trump Official Strait Of Hormuz To Reopen Soon? US, Iran May Strike Deal Within Hours, Says Trump Official Curated By, Last Updated: August 04, 2026, 18:46 IST Bessent said negotiations between Washington and Tehran were continuing and a breakthrough could come within days. Vessels at the Strait of Hormuz, as seen from Musandam, Oman, June 15, 2026. (Source: Reuters) Amid renewed hostilities in the US-Iran conflict, the United States and Iran could reach an agreement as early as Tuesday or Wednesday to reopen the Strait of Hormuz and restore freedom of movement for commercial shipping, US Treasury Secretary Scott Bessent has said. Speaking in an interview with CNBC’s Squawk Box, Bessent said negotiations between Washington and Tehran were continuing and a breakthrough could come within days. ‘We are in talks with the Iranians’ “We are in talks with the Iranians," Bessent said.
“There is a chance we may have a deal today or tomorrow to open the strait and move towards a more normalized position in this conflict." When asked whether Iran would be permitted to charge tolls for vessels using the strategic waterway, Bessent said the agreement would provide for “freedom of movement". “It would be freedom of movement," he said. The Strait of Hormuz is one of the world’s most important shipping routes, carrying energy supplies and other commercial goods. Oil prices fall after remarks Following Bessent’s comments, US crude oil futures fell by about 3 per cent to below $78 per barrel. The Treasury Secretary said prices could decline further once the large number of commercial ships currently stranded in the Persian Gulf are able to resume their voyages. “It’s not just energy. It’s fertilizer, it’s refined products, it is the various industrial gasses," Bessent said. “We could see a big relief trade as those prices go down." Trump paused attack for negotiations President Donald Trump said on Saturday that he had called off a major attack on Iran to allow negotiations aimed at reopening the Strait of Hormuz.
Trump has previously announced possible agreements to end the conflict, but those efforts have often been followed by renewed fighting between Washington and Tehran. The latest negotiations come as both sides attempt to find a way to restore commercial shipping through the vital maritime route. Previous agreement collapsed The United States and Iran signed a memorandum of understanding on June 17 to reopen the Strait of Hormuz but weeks later, fighting restarted. Following the agreement, ship traffic through the waterway briefly increased before the arrangement collapsed because Washington and Tehran could not agree on which shipping routes vessels should use while passing through the strait. Iran subsequently began attacking tankers travelling through Hormuz along Oman’s coast under US military protection. According to the information provided, Tehran wants commercial vessels to sail through Iranian territorial waters while using the strait. In response, Washington launched more than a dozen waves of airstrikes against Iran and reimposed its naval blockade.
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