Trump Says Deal to Reopen Strait of Hormuz Could Be Reached This Week

U.S. President Donald Trump announced that a deal to reopen the Strait of Hormuz could be reached as early as Wednesday, according to him.

The strait, which is critical for global oil and natural gas shipments, has been closed due to Iranian attacks on shipping, causing fuel prices to surge.

A draft deal between Iran and Oman has been finalized, awaiting approval from Iran's supreme leader. The deal would allow ships to enter the Persian Gulf through an Iranian-controlled route and exit through a route controlled by Oman, with service fees charged for security and environmental preservation.

However, Trump expressed opposition to tolls being charged, stating 'I'm not going to let them charge.' He also reiterated his stance against giving Iran control over the strait, which was previously an open international waterway.