U.S. President Donald Trump says an agreement to reopen the Strait of Hormuz could be announced as early as Wednesday, or possibly Thursday. Speaking to reporters while traveling with him in California, Trump referred to a report that an announcement could come Wednesday and said, “It could happen. Tomorrow or the next day,” adding that “a lot of progress has been made.”
Multiple reports note the potential deal is aimed at allowing oil tankers to resume normal passage in and out of the Persian Gulf, supporting global crude exports. Markets react accordingly: oil prices ease on expectations of progress toward a reopening arrangement, with Brent crude down about 1.2% to $78.43 per barrel in early trading referenced by one outlet.
Regional talks described by sources involve Iran and Oman. Officials cited by the Associated Press indicate the emerging arrangement would involve routes controlled by Iran and Oman, potentially including ships entering the Persian Gulf through an Iranian-controlled route. The outlets do not provide final terms or confirmation of a concluded agreement, but they characterize negotiations as moving forward.
