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Federal Reserve — Iran — Transportation — Trade

Bessent Says Hormuz Deal Could Come This Week

Negotiations with Iran are ongoing and expressed optimism that both sides could move toward a more stable phase in the conflict

,   and  TIPP Staff
2 min read
Treasury Secretary Scott Bessent

Treasury Secretary Scott Bessent said the United States and Iran could reach an agreement as early as Tuesday or Wednesday to reopen the Strait of Hormuz and restore unrestricted commercial shipping, according to remarks made in an interview with CNBC.

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Bessent said negotiations with Iran are ongoing and expressed optimism that both sides could move toward a more stable phase in the conflict. He said the proposed arrangement would guarantee "freedom of movement" for commercial vessels through the strategic waterway, rather than allowing Iran to impose transit fees.

The comments boosted hopes for easing tensions in the Gulf, even as Bessent acknowledged conditions in the region remain uncertain. He noted that shipping activity has already begun to recover, with more vessels transiting the strait in recent days.

Following his remarks, U.S. crude oil futures fell about 4% to below $77 per barrel as investors anticipated reduced risks to global energy supplies if a deal is finalized.

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