US Expects Deal Soon to Reopen Disrupted Strait of Hormuz

The US expects a deal soon to reopen the Strait of Hormuz, a strategic waterway that has been disrupted by the five-month-old war between Iran and the US.

A US official reported progress between Iran and Oman on Friday (7 August), saying 'there is progress between Oman and Iran on the strait, and we expect a deal soon.'

This agreement would allow normal oil traffic to resume and potentially restore oil exports that have been disrupted since February.

The disruption has caused energy prices to surge and fuelled inflation, with about one out of every five barrels of oil consumed worldwide transiting the strait before the conflict began.