US President Donald Trump said on Tuesday that an agreement to reopen the Strait of Hormuz could be reached within days, as Iran and Oman moved closer to a possible arrangement that could restore shipping through the vital waterway and help bring the conflict to an end, reports AP.
The potential deal comes after the war shifted focus from wider US and Israeli objectives, including efforts to pressure Tehran over its government and nuclear programme, to the strategic strait, where Iranian attacks and threats have brought commercial shipping almost to a standstill.
The closure has disrupted global energy markets, with the waterway previously carrying about one-fifth of the world’s oil and natural gas supplies. Trump told reporters travelling with him in California that an announcement on the Strait of Hormuz could come on Wednesday, after being asked about a report by the Axios news website.
“It could happen. Tomorrow or the next day,” he said on Tuesday evening, adding that “a lot of progress has been made”. Oil prices eased on Wednesday as markets reacted positively to hopes that shipping could resume. Brent crude, the international benchmark, fell 1.2 per cent to $78.43 a barrel in early trading.
The United States and Iran had previously reached an agreement to reopen the strait in June, but fighting resumed after renewed attacks. In recent days, Trump has alternated between threatening major military action and backing diplomatic efforts.
Two regional officials told The Associated Press that a possible agreement under discussion between Iran and Oman would allow ships to enter the Persian Gulf through an Iranian-controlled route and leave through a route managed by Oman.
The officials, who spoke on condition of anonymity because of the sensitivity of the negotiations, said service fees could be charged for security arrangements and protecting the maritime environment.
The Trump administration has previously rejected any agreement that would give Iran control over the strait, which had operated as an international waterway before US and Israeli strikes on Iran on February 28.
Trump has also opposed charging fees for vessels passing through the route. “I’m not going to let them charge,” he said on Monday. “Anybody’s going to charge, we’ll charge.”
The regional officials said talks were continuing and that the final arrangement could differ from the current proposal. They added that any agreement could be linked to lifting a US blockade on Iranian ports.
Iranian Foreign Ministry spokesman Esmail Baghaei said Tehran’s discussions with Oman were focused on creating safe shipping routes that respected sovereignty while addressing the security concerns of both countries.
“The final results of these negotiations will be announced once concluded,” he said, according to Iran’s state-run IRNA news agency. US Secretary of State Marco Rubio confirmed progress had been made but said an agreement had not yet been finalised.
He has previously warned against allowing Iran control over the strait, saying it could set a “very dangerous precedent”. Treasury Secretary Scott Bessent told CNBC there was a chance of a deal “today or tomorrow” to reopen the waterway and move towards a more normal situation.
Trump said Monday that talks with Iran represented Tehran’s “last chance” to avoid further US military escalation. Iran has denied negotiating directly with Washington, saying discussions are only taking place with Oman.
“The first phase is the opening of the straits. The second phase will be the denuclearisation,” Trump said, adding that the second stage would take more time.
