Trump says a deal for the Strait of Hormuz could be reached in a few days as talks between Iran and Oman move forward
Trump indicates that a deal regarding the Strait of Hormuz may be reached in the coming days as Iran and Oman make progress in discussions aimed at restoring global oil shipping.
US President Donald Trump has conveyed a positive outlook regarding the possibility of reaching an agreement to reopen the strategic Strait of Hormuz in the coming days, as discussions between Iran and Oman persist in an effort to restore maritime traffic through this vital oil shipping route.
While traveling in California on Tuesday evening, Trump informed reporters that an announcement regarding the proposed agreement might be made as soon as Wednesday or Thursday.
“It is a possibility.” “Tomorrow or the next day,” Trump stated in response to reports suggesting that an announcement regarding the Strait of Hormuz was forthcoming. “Significant advancements have been achieved.”
The comments emerged as Iran and Oman advanced towards an agreement that could facilitate the reopening of the waterway, potentially alleviating tensions in the region and contributing to the resolution of the ongoing conflict.
The prospect of a breakthrough has enhanced confidence in global energy markets, leading to a decline in oil prices as expectations rise that crude exports from the Persian Gulf may resume more freely. Brent crude, the international benchmark, fell by 1.2 percent to $78.43 per barrel in early trading on Wednesday.
Two regional officials familiar with the negotiations indicate that the developing framework would permit vessels entering the Persian Gulf to navigate a route overseen by Iran, while outbound traffic would traverse a corridor administered by Oman.
The officials, speaking on the condition of anonymity due to the sensitive nature of the discussions, indicated that vessels would need to pay service fees for maritime security and environmental protection along the specified routes.
However, the proposed arrangement could be contentious, as the Trump administration has previously rejected any agreement that would allow Iran control over the strategically important waterway.
Prior to the escalation of conflict triggered by U.S. and Israeli strikes on Iran on February 28, the Strait of Hormuz served as a vital international waterway, facilitating the transport of approximately one-fifth of the global oil and natural gas supplies. Shipping has been significantly impacted by Iranian attacks, leading to a drastic reduction in commercial traffic through the strait.
Earlier this week, Trump reiterated his stance against Iran imposing transit charges on vessels utilizing the waterway.
“I refuse to allow them to charge,” he stated. “If anyone is going to charge, we will charge.”
Despite indications of advancement, regional officials warned that discussions are still in progress and that the ultimate agreement may vary from the existing proposal. They noted that any agreement is anticipated to be associated with the removal of the U.S. blockade on Iran’s ports.
