- Trump, asked by reporters about an Axios report, said an announcement could come tomorrow or the next day, with a lot of progress made; he described the first phase as the opening of the straits and the second as denuclearization.
- Oil prices eased as Brent crude slipped by 1.2% to $78.43 per barrel, and about one fifth of the world’s oil and natural gas had passed through the strait before shipping was reduced by Iran’s attacks.
- Two regional officials told AP that the talks between Iran and Oman call for ships to enter the Persian Gulf through an Iranian-controlled route and exit through an Omani-controlled route, with service fees for security and preserving the maritime environment; any deal could be linked to lifting the U.S. blockade on Iran’s ports.
- U.S. Secretary of State Marco Rubio confirmed progress but not finality yet, while Treasury Secretary Scott Bessent said there was a chance of a deal today or tomorrow to open the strait.
- A cargo ship was hit by an unknown projectile in the Strait of Hormuz early Tuesday.
President Trump suggested that a deal to reopen the Strait of Hormuz could be finalized as early as Wednesday, following ongoing negotiations with Iran and Oman.67811
Trump stated, “It could happen. Tomorrow or the next day,” emphasizing that significant progress has been made. The discussions focus on establishing safe shipping lanes, with Iranian officials confirming that talks are centered on “establishing safe inbound and outbound shipping lanes,” while also addressing national security concerns.123
The proposed agreement would allow oil tankers to navigate the strait freely, which is crucial as about one fifth of the world’s oil and natural gas passes through this waterway. However, shipping has been severely restricted due to Iranian attacks since the onset of the conflict.45
Oil prices responded positively to the news, with Brent crude dropping 1.2% to $78.43 per barrel. U.S. Secretary of State Marco Rubio acknowledged progress in the negotiations but noted that “not finality yet.” Meanwhile, U.S. Treasury Secretary Scott Bessent remarked that “there is a chance we may have a deal today or tomorrow” to normalize the situation.910
The regional dynamics are further complicated by Iran's insistence that it is only negotiating with Oman, not the U.S.
In a related incident, an Indian-flagged commercial ship sank in the Red Sea after being struck by an explosive-laden boat, highlighting the ongoing maritime risks in the region.
“The emerging Iran-Oman plan would have ships enter the Persian Gulf via an Iranian-controlled route and exit via an Omani one, with service fees for security. Iran denies negotiating with the U.S., saying talks are only with Oman, despite Rubio citing progress 'but not finality yet.'”
AP News
