News | Commodity | Persian Gulf
Iran, Oman and US Edge Closer to Interim Hormuz Deal; Trump Says 'We'll Know in 48 Hours'
8 August 2026 | 2 months ago
The United States, Iran and Oman are edging closer to an interim agreement to reopen the Strait of Hormuz, a deal under negotiation for several weeks meant to restore the June 17, 2026 ceasefire between Washington and Tehran, resolve the dispute over shipping through the strategic waterway that carried a fifth of the world's oil supplies before the war, and open space for broader talks on Iran's nuclear programme, Al Jazeera reported. US President Donald Trump struck an optimistic tone on Tuesday evening, saying negotiations with Iran were "moving along very nicely" and adding: "We'll find out. We'll know in 48 hours. The strait is going to be open very soon, or they're going to get hit very hard, and then the strait is going to be open." Iran continues to deny holding direct talks with Washington, insisting discussions are being held through Oman as mediator; Iranian foreign ministry spokesman Esmaeil Baghaei described the Oman talks as "positive." The UK Maritime Trade Operations agency (UKMTO) reported that a cargo ship was struck by an unidentified projectile off Oman on Tuesday. Commercial traffic through the strait remains heavily disrupted, Al Jazeera said: only eight vessels transited on Monday, compared with roughly 130 ships a day before the US-Israel war on Iran began on February 28, 2026.
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