US-Iran War Live Updates: Donald Trump’s Hormuz deal would give Iran control of inbound traffic in the Strait
US-Iran War Live: US President Donald Trump has said that a deal with Iran to reopen the Strait of Hormuz could be announced in the next few hours. Iran blocked the Strait of Hormuz, through which nearly one-fifth of the world's oil passes through, in response to the US-Israeli war on the country.
On Wednesday, US President Donald Trump disclosed that negotiations with Iran aimed at reopening the Strait of Hormuz could commence as early as the following day. The deal, if finalized, would grant Iran control over incoming vessels entering the Gulf via the strategic waterway. Oil prices experienced a slight decline, with Brent crude falling by 1.2% to $78.43 per barrel.
The US and Iran had previously attempted to reach an agreement in June, but hostilities resumed shortly after. The proposed deal would represent one of the most substantial concessions the United States has made to Iran during the ongoing five-month-long conflict.
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