Multiple reports say the United States and Iran are close to agreeing on a framework that would reopen the Strait of Hormuz to normal commercial traffic while hostilities are reduced. Reuters-cited reporting via Axios and other outlets describes a proposed 60-day ceasefire extension in which the strait would be open with no tolls, Iran would be allowed to sell oil, and negotiations would continue on curbing Iran’s nuclear program. Several reports also say Iran would clear mine networks it deployed in the strait within a set period to allow ships to pass safely.
Separately, Reuters reporting citing Nikkei and Iranian state media says Iran would reopen the strait about 30 days after a deal is reached to end hostilities, following a 30-day clearance window for mines. Those accounts also say Iran would stop collecting transit fees and that the United States would withdraw forces from near Iran and lift a naval blockade.
CNBC reports that traders are skeptical of timelines for reopening. Overall, outlets characterize the details as part of an unofficial or draft memorandum of understanding, with final terms still under review in Washington.
