Trump says Strait of Hormuz deal could come as Iran, Oman near reopening

Cairo,UPDATED: Aug 5, 2026 11:44 IST

US President Donald Trump has said a deal on the Strait of Hormuz could be announced as early as Wednesday or Thursday, as Iran and Oman moved closer to an agreement to reopen the key waterway and possibly help bring the war to an end.

Speaking to reporters in California on Tuesday evening, after being asked about an Axios report that an announcement could come on Wednesday, Trump said, "It could happen. Tomorrow or the next day," and added, "A lot of progress has been made." Hopes of a breakthrough also pushed oil prices lower, with Brent crude slipping 1.2 per cent to USD 78.43 a barrel early Wednesday.

According to two regional officials who spoke to The Associated Press on condition of anonymity, the emerging agreement from talks between Iran and Oman would allow ships to enter the Persian Gulf through a route controlled by Iran and leave through a route controlled by Oman. The officials said service fees would be charged for security and for protecting the maritime environment.

The Trump administration has previously ruled out any arrangement that gives Iran control over the strait. In an exchange with reporters on Monday, Trump repeated his opposition to tolls in the waterway, saying, "I'm not going to let them charge," and, "Anybody's going to charge, we'll charge." The strait had been an open international waterway before the US and Israel attacked Iran on Feb. 28. About one fifth of the world's oil and natural gas passed through it, but shipping has been reduced to a trickle at best by Iran's attacks since the war began.

The regional officials said negotiations were still continuing and the final agreement could take a different shape. They added that any deal was linked to lifting the US blockade on Iran's ports.

Iranian Foreign Ministry spokesman Esmail Baghaei said on Tuesday that Tehran's talks with Oman were focused on "establishing safe inbound and outbound shipping lanes", routes that "uphold sovereign rights while also addressing the national security considerations of both Iran and Oman". He added, according to Iran's state-run IRNA news agency, "The final results of these negotiations will be announced once concluded."

US Secretary of State Marco Rubio also said progress had been made in the talks, "but not finality yet". Rubio has earlier said any deal giving Iran control over the strait would create a "very dangerous precedent" elsewhere in the world. US Treasury Secretary Scott Bessent told CNBC that "there is a chance we may have a deal today or tomorrow to open the strait and move towards a more normalized position in this conflict."

Qatar's emir, Sheikh Tamim bin Hamad Al Thani, said he too had spoken to Trump by phone on Tuesday as the Gulf country tried to help broker an end to the war. Al Thani's office said the two leaders discussed ways to bridge the divide "in a way that enhances the prospects of reaching a sustainable diplomatic settlement to the crisis." Trump has faced pressure to end the war as it has pushed up gas prices ahead of midterm elections and reduced US stocks of some munitions. In recent days, he has alternated between threatening massive strikes and backing diplomacy.

Trump said on Monday that the US was in talks with Iran and that it was Tehran's "last chance" to reach a deal and avoid another US military escalation. "The first phase is the opening of the straits. The second phase will be the denuclearization," he said. "And that will take a little while." Iran has denied that it is negotiating with the US and has said the talks are only with Oman.

For now, officials on all sides say progress has been made on reopening the Strait of Hormuz, though the talks are still not complete and key differences remain over control, fees and the wider terms of any agreement.

With PTI Inputs

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