Trump claims — yet again — that a deal to reopen Hormuz is close

U.S. President Donald Trump claimed on Tuesday that a deal to reopen the Strait of Hormuz could be finalized as early as Wednesday, as Iran and Oman move closer to an agreement. The closure of the waterway, which has been under constant threat since the U.S.-Iran war began on February 28, has caused a surge in fuel and basic goods prices, destabilizing the global economy.

Trump spoke while traveling with reporters in California, suggesting progress had been made in the talks. Oil prices initially dropped upon news of a potential deal, but later rose. The U.S. and Iran first agreed to reopen the strait in June, but attacks resumed. Iranian and Omani negotiators have drafted a deal, awaiting final approval from Iran's supreme leader.

The proposal would allow ships to pass through the Persian Gulf via routes controlled by Iran and Oman, with service fees charged for security and environmental preservation. The Trump administration has previously opposed any deal granting Iran control over the strait, but progress in negotiations is reported. Despite hopes of a resolution, attacks on shipping persist, including an Iranian-backed Houthi rebel missile strike on a Saudi oil tanker in the Red Sea, and a recent Indian-flagged ship sinking in the same strait.

The United Nations human rights chief has also criticized the increase in executions and death sentences in Iran since March, with at least 56 executions carried out since the beginning of the year.