U.S. President Donald Trump said a deal on the Strait of Hormuz could come as early as Wednesday or Thursday, while Iran and Oman inched toward an agreement to reopen the critical waterway and potentially help bring an end to the war. This was reported by Qazaqyia.kz citing Associated Press.
Trump was asked by reporters traveling with him in California about a report on the Axios news site that an announcement on the Strait of Hormuz could be made on Wednesday.
"It could happen. Tomorrow or the next day," he said, speaking on Tuesday evening California time, which was already Wednesday morning in the Middle East. "A lot of progress has been made."
Oil prices eased on hopes of progress for a deal that would allow oil tankers to freely exit the Persian Gulf again and deliver crude around the world. Brent crude, the international standard, slipped by 1.2% to $78.43 per barrel early Wednesday.
The possible agreement emerging from talks between Iran and Oman calls for ships to enter the Persian Gulf through an Iranian-controlled route and exit through a route controlled by Oman, two regional officials told The Associated Press. Service fees would be charged for providing security and preserving the maritime environment, the officials said.
The officials spoke on condition of anonymity to discuss the sensitive negotiations.
The Trump administration has previously ruled out any deal that would give Iran control over the strait, which was an open international waterway before the U.S. and Israel attacked Iran on Feb. 28.