WASHINGTON — U.S. President Donald Trump said on Wednesday a deal to restore shipping through the Strait of Hormuz could be reached as early as later in the day, citing what he described as productive discussions involving Iran, while cautioning that no agreement had yet been finalized.
Trump told reporters that negotiations were progressing and expressed optimism that an arrangement could reopen one of the world's most important maritime oil transit routes. He did not provide details of the proposed agreement or say whether all parties had accepted its terms.
The White House has said the United States has been engaged in discussions aimed at easing the five-month conflict involving Iran, with regional mediation efforts including Oman and Qatar. Reuters could not independently verify that a final agreement was imminent.
Iranian officials have acknowledged contacts but have publicly maintained that no final deal can be concluded while Tehran believes Washington continues to issue threats. Iranian state media also indicated that negotiations remain unresolved despite reports of progress.
The prospect of an agreement initially lifted financial markets and pushed oil prices lower on expectations that commercial traffic through the Strait of Hormuz could resume. Later on Wednesday, however, crude prices recovered some losses after Yemen's Iran-aligned Houthi movement said it had attacked a Saudi oil tanker in the Red Sea, underscoring continued security risks in the region.
The Strait of Hormuz normally carries roughly one-fifth of global oil and liquefied natural gas shipments, making any disruption a major concern for energy markets.
As of Wednesday, no agreement had been officially announced, and negotiations remained ongoing, with key details and the timing of any final accord still unconfirmed.
