Trump Predicts Strait of Hormuz Reopening Deal This Week

An agreement to reopen the Strait of Hormuz could be reached as early as Thursday or Friday, according to US President Donald Trump, as Iran and Oman inch toward a maritime pact that could help end the wider conflict. Trump told reporters traveling with him in California that “a lot of progress has been made” following reports of an impending announcement, while international oil prices eased in response, with Brent crude slipping 1.2% to $78.43 per barrel.

Strait of Hormuz Deal Framework and Toll Disputes

The emerging framework between Iran and Oman would establish separate inbound and outbound shipping lanes in the vital waterway, according to two regional officials who spoke to The Associated Press on condition of anonymity. Under the proposal, ships would enter the Persian Gulf via an Iranian-controlled route and exit through an Omani-controlled route, with service fees charged to cover security and maritime environmental preservation. However, Trump publicly rejected the idea of Iran collecting tolls, stating during an exchange with reporters, “I’m not going to let them charge. Anybody’s going to charge, we’ll charge.” Regional officials noted that negotiations remain ongoing and could link any reopening to the lifting of the US blockade on Iranian ports.

Diplomatic Talks and Regional Mediation Efforts

Iranian Foreign Ministry spokesman Esmail Baghaei stated that talks with Oman focus on establishing safe shipping lanes that respect sovereign rights and national security considerations, according to Iran’s state-run IRNA news agency. US Secretary of State Marco Rubio confirmed progress in those discussions but noted there is “not finality yet,” having previously warned that granting Iran control over the strait sets a dangerous precedent. Meanwhile, US Treasury Secretary Scott Bessent told CNBC that a deal to normalize shipping positions could materialize imminently. Qatar is also actively attempting to broker a resolution, with Qatar’s emir, Sheikh Tamim bin Hamad Al Thani, discussing sustainable diplomatic settlements during a phone call with Trump.

Ongoing Maritime Attacks Disrupt Red Sea and Gulf Shipping

Despite diplomatic headway, maritime security incidents continue to disrupt regional trade. An Indian-flagged commercial ship sank in the Red Sea off Yemen after a strike by an explosive-laden boat, with Yemen’s coast guard successfully rescuing a crew of 13 Indians and one Yemeni, according to authorities. While no group claimed immediate responsibility, Yemen’s Iran-backed Houthi militants have repeatedly targeted commercial vessels near Yemen and recently closed the Bab el-Mandeb Strait for Saudi-linked shipping. Separately, the United Kingdom Maritime Trade Operations Centre reported that an unspecified cargo ship sustained damage after being hit by an unknown projectile approximately 37 kilometers northeast of Al Khasab, Oman.

Frequently Asked Questions

Who is negotiating the potential reopening of the Strait of Hormuz?

Iran and Oman are conducting talks regarding safe shipping lanes, while regional mediators like Qatar’s emir are in separate discussions with US President Donald Trump.

What are the proposed terms for ships transiting the strait?

Regional officials report the framework calls for vessels to enter through an Iranian-controlled lane and exit through an Omani-controlled lane, with potential service fees attached, though Washington has expressed opposition to Iranian toll collection.

How have oil markets reacted to the negotiations?

International benchmark Brent crude dipped 1.2% to $78.43 per barrel following reports that a deal to allow oil tankers to safely exit the Persian Gulf could be reached soon.

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