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.
64 Articles
64 Articles
Chance of Hormuz deal with Iran by Aug. 5 – US Treasury Secretary
WASHINGTON, United States — Treasury Secretary Scott Bessent said that the United States could reach a deal with Iran to reopen the Strait of Hormuz by Wednesday, adding that this would stabilize energy prices. “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 normalized position in this conflict,” Bessent said Tuesday in an interview with CNBC. Asked…
Scott Bessent opens the possibility of an understanding already today or tomorrow to guarantee the freedom of navigation in the Strait. After his words the price of oil drops: the Brent gives more than 3%. Meanwhile in Rome the talks between Israel and Lebanon continue. Hezbollah attacks the negotiations: "Only shame, humiliation and continuous compromises"
Oil plunges on Tuesday, the Brent returning to the 80-dollar mark and the U.S. WTI declining by more than 5 per cent, after the U.S. expressed hope for the early conclusion of an agreement to reopen the Strait of Ormuz.
US may have deal with Iran to reopen Strait of Hormuz ‘today or tomorrow’, Bessent says
WASHINGTON — The US could lock down a deal with Iran as soon as Tuesday to reopen the Strait of Hormuz and let commercial ships sail freely again, Treasury Secretary Scott Bessent claimed.“We are in talks with the Iranians,” Bessent said on CNBC’s “Squawk Box.” Tuesday morning. “There is a chance we may have a...
The statement has had a direct impact on US oil prices.
Coverage Details
Bias Distribution
- 48% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
