Trump Fuels Hopes of Hormuz Reopening With Hints a Deal is Near
US President Donald Trump said a deal on the Strait of Hormuz is possible as early as Wednesday, as expectations build for an arrangement that allows for the reopening of the crucial waterway for energy markets.
US President Donald Trump has suggested that a deal on reopening the Strait of Hormuz could be reached as early as Wednesday, in an effort to alleviate concerns over global energy supply. The proposed agreement, which would involve the US, Iran, and Oman, would allow inbound vessels to use a northern lane near Iran while outbound traffic travels through Omani waters.
The Strait of Hormuz is a critical shipping route, handling around 20% of the world's oil and liquefied natural gas shipments. While negotiations are reportedly moving along well, there are still risks of military escalation, as previous agreements have collapsed and recent threats from Iranian proxies remain a concern. A short-term deal could help stabilize oil prices and alleviate fears among traders.
Brief written by urgent.news from Live Mint's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
