US treasury secretary says Hormuz deal with Iran possible by Wednesday
US treasury secretary Scott Bessent was upbeat about the impact a deal with Iran over the Strait of Hormuz could have on energy prices.
Treasury Secretary Scott Bessent announced that the US could potentially negotiate a deal with Iran to reopen the Strait of Hormuz by Wednesday, which would help stabilize energy prices. Bessent revealed that ongoing discussions with Iranian authorities have provided a slight possibility of reaching an agreement on Wednesday or Thursday.
During an interview with CNBC, Bessent stated, "I think it would be freedom of movement" in reference to Iran's ability to freely navigate the strait. Bessent's remarks mirrored those of President Donald Trump, who had claimed that the waterway could reopen within hours after he distanced himself from a potential military strike on Iran.
Iran's foreign ministry dismissed the negotiations, and a mysterious object struck a cargo vessel in the strait, fueling further tensions between the two nations. State Secretary Marco Rubio confirmed that the US is engaged in talks between Oman and Iran regarding the matter, expressing optimism that a resolution would be reached soon.
Bessent pointed out that hundreds of ships are currently awaiting passage through the strait, and a successful deal with Iran would likely lead to a decrease in energy prices, benefiting the global economy.
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