Trump Sees Deal on Strait of Hormuz Shipping in Days
President Donald Trump said that a deal to restore shipping through the Strait of Hormuz could be reached within days, raising expectations for the reopening of one of the world's most important oil transit routes. The Strait handles roughly one-fifth of global oil supplies, making any progress toward restoring commercial traffic significant for global energy markets.
A 60-day agreement between the United States, Iran, and Oman is reportedly being prepared to allow commercial shipping to resume through the strategic waterway. Under this proposal, inbound vessels would travel through a northern shipping lane near Iran, while outbound traffic would use Omani waters. Iran and Oman would also work to clear mines from a central shipping lane.
The Iranian government has signaled that an agreement may not immediately result in the reopening of the strait, stating that any move to restore shipping would depend on what it described as a change in US behavior.