US Treasury Secretary Scott Bessent indicated on Tuesday that the United States might reach an agreement with Iran to reopen the Strait of Hormuz within days. This development could help stabilize global energy prices amid ongoing tensions in the region.
In an interview with CNBC, Bessent stated, "We are in talks with the Iranians, and I think there is a chance we may have a deal today or tomorrow to open the strait and move towards a more normalized position in this conflict."
When asked whether the deal would allow Iran to impose tolls on shipping, Bessent clarified that the agreement would likely guarantee freedom of movement through the strategic waterway.
The comments align with US President Donald Trump's recent remarks suggesting the Strait of Hormuz could reopen shortly after he stepped back from threats of a major military strike against Iran.
Meanwhile, Iran's foreign ministry has denied ongoing negotiations with the US. Tensions remain high following an incident where an unidentified projectile struck a cargo ship in the strait, a critical route for about 20 percent of the world's oil shipments before the conflict.
US Secretary of State Marco Rubio confirmed US involvement in talks between Oman and Iran aimed at restoring traffic through the strait. He noted progress has been made but a final agreement is still pending.
Bessent also highlighted the positive impact an agreement could have on energy markets, noting that hundreds of ships are currently waiting to pass through. "Even though things are still a little dicey there over the past few days, we've seen quite a few ships coming out even now," he said. "I'd expect energy prices to settle back down, which will be good for the entire world."
