Rubio says progress has been made in talks to reopen the Strait of Hormuz

US Secretary of State Marco Rubio said on Tuesday, 4 August 2026 (13 Mordad 1405), that progress has been made in negotiations to reopen the Strait of Hormuz and that there is hope of reaching an agreement in the very near future. He stressed that reducing tensions in the strategic waterway is a diplomatic priority for Washington.

Tehran describes the structure of those talks differently. A spokesperson for Iran's foreign ministry said the same day that negotiations on establishing safe inbound and outbound shipping routes through the Strait of Hormuz are being pursued between Iran and Oman, at both technical and political levels.

The remarks came on a day when the oil market recorded its sharpest fall in several weeks: Brent crude dropped about 6% on Tuesday 4 August to around 79 dollars a barrel, while West Texas Intermediate slipped to 75.60 dollars. The Strait of Hormuz is the main export route for Persian Gulf oil, and any sign of its reopening feeds directly into the risk premium in global crude prices.