Bessent says there may be deal Tuesday or Wednesday to open Strait of Hormuz with ‘freedom of movement’
Bessent said a deal could let hundreds of ships resume transit and push Brent crude and West Texas Intermediate lower.
- On Tuesday, Treasury Secretary Scott Bessent said the United States could reach a deal with Iran by Wednesday to reopen the Hormuz Strait, with the agreement ensuring "freedom of movement" and stabilizing energy prices.
- President Donald Trump insisted on Monday that negotiations were underway, calling them the "last chance" before "decapitation," and added, "Hopefully they'll come to their senses."
- Iranian Foreign Ministry spokesperson Esmail Baghaei denied that direct negotiations with Washington are occurring, while Qatar spokesperson Majed Al-Ansari confirmed "efforts are ongoing with all parties" but noted no direct talks are planned.
- Oil prices fell further on Tuesday, with Brent dropping more than 2% and West Texas Intermediate falling more than 3% to below $78, even as an unknown projectile struck a cargo ship near Oman.
- Tehran is reportedly seeking to control inbound shipping and oversee outbound traffic through the Hormuz Strait, contrasting sharply with the administration's stated goal of "freedom of movement.
135 Articles
135 Articles
Oil prices have fallen to the lowest level in the last three weeks, on the basis of hopes from high American officials for an agreement with Iran to reopen the Ormuz Straits, a strategic waterway. US Secretary of State Marco Rubio and Secretary of the Treasury Scott Bessen both announced that the negotiations have made progress, which could allow transport to resume just this week, BBC announces.
U.S. Treasury Secretary says chance of Hormuz deal with Iran by August 5
"We are in talks with the Iranians, and I think there is a chance we may have a deal today or tomorrow to open the strait and move towards a more normalised position in this conflict," says Scott Bessent
Talks With Iran to Reopen Strait of Hormuz Make Progress, Officials Say
Qatar said that draft language of a deal was being circulated, while the U.S. Treasury secretary suggested an agreement may be imminent. Source link : https://www.nytimes.com/2026/08/04/world/middleeast/strait-of-hormuz-deal-progress.html Author : Aaron Boxerman and Ismaeel Naar Publish date : 2026-08-04 16:27:00 Copyright for syndicated content belongs to the linked Source.
The United States and Iran could reach an agreement between this Tuesday and Wednesday to reopen the transit of commercial ships in the Strait of Ormuz, according to Treasury Secretary Scott Bessent. In conversation with CNBC, Bessent assured that negotiations are under way with the Persian country to achieve freedom ... Continue reading "U.S. believes that it could reach an agreement before Wednesday with Iran about Ormuz" The post U.S. believe…
American Treasury Secretary Scott Bessant said today that there is an opportunity in the negotiations with the Iranians to reach an agreement today or tomorrow on the reopening of the Strait of Hormuz.
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