Trump says deal to reopen Strait of Hormuz could come this week
President Donald Trump indicated that a deal to reopen the Strait of Hormuz could be finalized soon, potentially easing global oil prices. The proposed agreement involves Iran and Oman managing transit routes through the waterway.
Why it matters
The Strait of Hormuz is a critical chokepoint for global oil supply; any resolution to the conflict there significantly impacts international energy markets.
<p>US President Donald Trump said a deal on the Strait of Hormuz could come as early as Thursday or Friday, while Iran and Oman inched toward an agreement to reopen the critical waterway and potentially help bring an end to the war.</p> <p>Trump was asked by reporters travelling with him in California about a report on the Axios news site that an announcement on the Strait of Hormuz could be made on Thursday.</p> <p>"It could happen. Tomorrow or the next day," he said. "A lot of progress has been made."</p> <p>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.
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