Bessent says US-Iran deal to reopen Strait of Hormuz could land Tuesday or Wednesday
US Treasury Secretary Scott Bessent said Washington is in talks with Iran on a deal that would guarantee "freedom of movement" through the Strait of Hormuz, and that an announcement could come as soon as Tuesday or Wednesday. The comments follow warnings that the threat to oil tankers in the strait is now at its highest since the Iran war began. Oil prices fell on the news.
US Treasury Secretary Scott Bessent told CNBC's "Squawk Box" that Washington is "in talks with the Iranians" on an arrangement that would restore "freedom of movement" for vessels through the Strait of Hormuz, and said an announcement could come as soon as Tuesday or Wednesday. He did not disclose further details of the negotiations but described the progress as concrete.
The comments follow analyst warnings that the threat to oil tankers in the strait is now at its highest level since the Iran war began, and come as Qatar has also confirmed involvement in talks aimed at easing regional tensions.
Oil prices fell on the news as markets began pricing in reduced risk to global energy supply from a reopened strait. It remains unclear whether a deal will be finalized or what conditions it would carry.
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