The US could lock down a deal with Iran as soon as Tuesday to reopen the Strait of Hormuz and let commercial ships sail freely again, Treasury Secretary Scott Bessent claimed.
“We are in talks with the Iranians,” Bessent said on CNBC’s “Squawk Box.” Tuesday morning. “There is a chance we may have a deal today or tomorrow to open the strait and move towards a more normalized position in this conflict.”
Any deal would restore “freedom of movement” through the key shipping lane, added Bessent, making clear Iran would not be allowed to slap tolls or fees on passing ships.
The secretary’s comments sent oil prices sliding, with crude dropping below $77 a barrel as traders bet the waterway could soon reopen.
Bessent predicted prices could fall even more once hundreds of ships stuck in the Persian Gulf for months finally get moving.
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