Oil prices tumbled after US Treasury Secretary Scott Bessent said a deal to reopen the Strait of Hormuz could be reached this week. Bessent said such an agreement would ensure freedom of navigation through the key shipping route.
However, an informed Iranian official said the deal with Oman is being delayed because of US interference and threats from President Donald Trump. Speaking to the state-affiliated Sepah News, the official said the agreement will remain delayed as long as America interferes and threatens a military attack on Iran. The official added that Iran will not accept any agreement while under threat.
The competing statements reflect uncertainty over the future of the Strait of Hormuz, a critical passage for global oil shipments.