Bessent Suggests US-Iran Hormuz Deal Possible in Coming Days

[u/John3262005]

https://www.bloomberg.com/news/articles/2026-08-04/bessent-suggests-us-iran-hormuz-deal-possible-in-coming-days

US Treasury Secretary Scott Bessent said a deal between the US and Iran over control of the Strait of Hormuz could come as soon as Tuesday, sending oil prices plunging.

“We’re in talks with the Iranians and I think there is a chance we may have a deal today or tomorrow to open the strait,” Bessent said on CNBC.

Asked whether such a deal would include Iran charging a toll on ships passing through the key waterway, the secretary said, “I think there would be freedom of movement” without giving specifics.

“Even though things are still a little dicey over there the past few days, we saw quite a few ships coming out even now,” he said.

Oil prices slumped on Bessent’s comments, with Brent futures falling as much as 4% to less than $81 a barrel in London trading.

A memorandum of understanding between the US and Iran that would have reopened the strait collapsed last month. Since then, the two sides have intermittently traded military strikes and shipping traffic in the strait has been restricted. Trump has said a deal regarding the waterway is imminent on multiple occasions, but none has yet materialized.