US President Donald Trump said a deal on the Strait of Hormuz could come as early as Wednesday, as Iran and Oman inched toward an agreement to reopen the critical waterway and potentially help bring an end to the war.
Israel and the US originally cited goals including toppling Tehran’s government and ending its nuclear programme, but the war has devolved into a fight over the strait as Iran’s attacks and threats ground shipping to a halt.
Closure of the strait, through which a fifth of the world’s oil and natural gas once passed, has driven up the price of fuel and basic goods far beyond the region, roiling the global economy. Trump is also under mounting pressure to end an unpopular war ahead of midterm congressional elections scheduled for later this year.
The US president 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 Wednesday.
“It could happen. Tomorrow or the next day,” he said, speaking on Tuesday evening California time. “A lot of progress has been made.”
Oil prices eased Wednesday on hopes of a deal that would allow shipping to resume. Brent crude, the international standard, slipped by 1.2% to $78.43 per barrel early Wednesday.
The US and Iran reached a deal to open the strait in June, only for attacks to resume. In recent days, Trump has again alternately threatened massive strikes and voiced support for diplomatic efforts.
Even as hopes increased that a deal on the Strait of Hormuz could be imminent, attacks on shipping in the region continued.
The Iranian-backed Houthi rebels claimed Wednesday they had fired ballistic missiles toward a Saudi oil tanker called the Wafa in the Red Sea. Brig. Gen. Yahya Sare, a military spokesman for the Houthis, made said in a pre-recorded statement that the vessel was targeted in the northern Red Sea off the Saudi port city of Yanbu. He didn’t provide evidence.
There was no immediate comment from Saudi Arabia.
