{"id":3867,"date":"2026-08-05T01:30:01","date_gmt":"2026-08-05T01:30:01","guid":{"rendered":"https:\/\/www.arabnewsmonitor.com\/?p=3867"},"modified":"2026-08-05T01:30:02","modified_gmt":"2026-08-05T01:30:02","slug":"us-says-iran-hormuz-deal-could-come-today-or-tomorrow-as-oil-prices-plunge","status":"publish","type":"post","link":"https:\/\/www.arabnewsmonitor.com\/?p=3867","title":{"rendered":"US says Iran Hormuz deal could come &#8216;today or tomorrow&#8217; as oil prices plunge"},"content":{"rendered":"<div data-tms-ad-status=\"idle\" data-tms-ad-container class=\"o-ad-container o-ad-container--banner-top o-ad-container--with-shimmer o-ad-container--with-background\">\n<div class=\"o-ad-container__content o-ad-container__content--report-enabled\">\n<div class=\"o-ad-container__label m-block-ad__label--report-enabled\">\n                    <span class=\"o-ad-container__label__text\">Advertising<\/span><br \/>\n                                            <button title=\"Report this ad\" class=\"o-ad-container__content__report-link\" data-tms-ad-report><\/p>\n<p>                        <\/button>\n                                    <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"o-ad-sponsoring\" data-tms-ad-type=\"sponsoring\" data-tms-ad-status=\"disabled\">\n<div class=\"o-ad-sponsoring__wrapper\">\n    <\/div>\n<\/div>\n<div class=\"t-content t-content--article\" id=\"main-content\">\n<div class=\"t-content__above-sidebar\">\n<h1 class=\"t-content__title a-page-title\">US says Iran Hormuz deal could come &#8216;today or tomorrow&#8217; as oil prices plunge<\/h1>\n<div class=\"m-master-tag\">\n<div class=\"a-tag-section\">\n                                    Middle East\n                            <\/div>\n<\/p><\/div>\n<p class=\"t-content__chapo\">\n                                        A senior Trump administration official said an agreement to restore shipping through the Strait of Hormuz could be reached as soon as &#8220;today or tomorrow,&#8221; fueling hopes of a diplomatic breakthrough despite Iran&#8217;s public denials that it is negotiating with Washington.                <\/p>\n<\/p><\/div>\n<div class=\"t-content__with-sidebar\">\n<div class=\"t-content__beside-sidebar\" data-article-content>\n<div class=\"t-content__metadata\">\n<div class=\"t-content__dates\">\n<p class=\"m-pub-dates\"><span class=\"m-pub-dates__date\">Issued on: <time datetime=\"2026-08-05T00:09:38+00:00\">05\/08\/2026 &#8211; 02:09<\/time><\/span><\/p>\n<div class=\"a-reading-time\">\n    <span class=\"a-reading-time__icon\" title=\"Reading time\"><\/p>\n<p>    <\/span><br \/>\n    3 min    <span class=\"u-sr-only\">Reading time<\/span>\n<\/div>\n<\/p><\/div>\n<div class=\"a-share-button\" data-root-share>\n<p>                            <span class=\"a-master-button__label\">Share<\/span><\/p><\/div>\n<div class=\"t-content__authors\">\n<div class=\"m-from-author\">\n                    <span class=\"m-from-author__by-label\"><br \/>\n                By:<br \/>\n            <\/span><\/p>\n<div class=\"m-author\">\n<div class=\"m-author__name\">\n                                                    <a href=\"\/en\/author\/france-24\/\" title=\"FRANCE 24\" class=\"m-author__name__title\"><br \/>\n                                FRANCE 24<br \/>\n                            <\/a>\n                    <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"t-content__main-media\">\n<figure class=\"m-item-image m-item-image--16x9 m-item-image--has-caption\">\n<p><img fetchpriority=\"high\" decoding=\"auto\" src=\"https:\/\/s.france24.com\/media\/display\/5088a0ca-8f16-11f1-b50f-005056bf30b7\/w:1024\/p:16x9\/2026-08-03T073412Z-770587991-RC2RQMAX5JLL-RTRMADP-3-IRAN-CRISIS-SHIPPING.jpg\" srcset=\"https:\/\/s.france24.com\/media\/display\/5088a0ca-8f16-11f1-b50f-005056bf30b7\/w:388\/p:16x9\/2026-08-03T073412Z-770587991-RC2RQMAX5JLL-RTRMADP-3-IRAN-CRISIS-SHIPPING.jpg 388w,https:\/\/s.france24.com\/media\/display\/5088a0ca-8f16-11f1-b50f-005056bf30b7\/w:720\/p:16x9\/2026-08-03T073412Z-770587991-RC2RQMAX5JLL-RTRMADP-3-IRAN-CRISIS-SHIPPING.jpg 720w,https:\/\/s.france24.com\/media\/display\/5088a0ca-8f16-11f1-b50f-005056bf30b7\/w:1024\/p:16x9\/2026-08-03T073412Z-770587991-RC2RQMAX5JLL-RTRMADP-3-IRAN-CRISIS-SHIPPING.jpg 1024w\" sizes=\"(max-width: 1076px) 100vw, 1012px\" width=\"1024\" height=\"576\" alt=\"US, Israel, Iran\" loading=\"eager\" class=\"a-img \"><figcaption class=\"a-figcaption\">\n                US, Israel, Iran        REUTERS &#8211; Stringer    <\/figcaption><\/figure>\n<\/div>\n<div class=\"t-content__body u-clearfix\">\n<p>A top US official said Tuesday that a deal with <a href=\"https:\/\/www.france24.com\/en\/tag\/iran\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">Iran<\/a> to reopen the <a href=\"https:\/\/www.france24.com\/en\/tag\/strait-of-hormuz\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">Strait of Hormuz<\/a> could be struck &#8220;today or tomorrow&#8221;, sending oil prices tumbling on hopes of increased shipments through the vital waterway.<\/p>\n<p>US Treasury Secretary Scott Bessent told CNBC &#8220;there is a chance we may have a deal&#8221; in the coming hours, echoing President <a href=\"https:\/\/www.france24.com\/en\/tag\/donald-trump\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">Donald Trump<\/a>.<\/p>\n<p>Speaking from the <a href=\"https:\/\/www.france24.com\/en\/tag\/white-house\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">White House<\/a> on Monday, Trump kept up his familiar combination of optimism for diplomacy and threats, <a href=\"https:\/\/www.france24.com\/en\/middle-east\/20260803-trump-says-us-iran-talks-continue-warns-tehran-faces-last-chance\" target=\"_self\">warning that this was Iran&#8217;s &#8220;last chance before decapitation&#8221;.<\/a><\/p>\n<p>Tehran and Washington have been at war since February 28, when the US and <a href=\"https:\/\/www.france24.com\/en\/tag\/israel\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">Israel<\/a> launched surprise attacks on Iran. Despite a <a href=\"https:\/\/www.france24.com\/en\/tag\/ceasefire\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">ceasefire<\/a> and a preliminary deal in the months since, diplomacy has failed to end the conflict.<\/p>\n<p>Underlining the volatile situation, one crew member was listed missing Tuesday on a merchant ship hit by a projectile in Hormuz, while an Indian ship in the <a href=\"https:\/\/www.france24.com\/en\/tag\/red-sea\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">Red Sea<\/a> sank following an unattributed attack.<\/p>\n<p>The Strait of Hormuz, a key conduit for global oil and gas supplies, has been the spark for renewed fighting.<\/p>\n<p>Iran wants to control the strait and charge tolls, powers it did not exercise before the war, developments fiercely opposed by the US.<\/p>\n<p>In what has become a regular pattern, <a href=\"https:\/\/www.france24.com\/en\/middle-east\/20260729-live-us-and-saudi-arabia-launch-strikes-on-iraq-target-iran-allies\" target=\"_self\">Trump last week threatened to hit Iran &#8220;very hard&#8221;<\/a>, potentially with attacks against civilian infrastructure, only to pull back, hinting a deal was near.<\/p>\n<p>But Iran&#8217;s foreign ministry denied negotiations with Washington, even as Trump insisted they were happening.<\/p>\n<p>Secretary of State <a href=\"https:\/\/www.france24.com\/en\/tag\/marco-rubio\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">Marco Rubio<\/a> said Tuesday that the United States was involved in negotiations between <a href=\"https:\/\/www.france24.com\/en\/tag\/oman\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">Oman<\/a> and Iran on increasing traffic through the Strait of Hormuz.<\/p>\n<p>Oil prices plummeted on the rekindled hopes of reopening the strait, with benchmark Brent North Sea Crude prices falling over six percent to below $79.00 per barrel.<\/p>\n<h2>Deal or surrender<\/h2>\n<p><a href=\"https:\/\/www.france24.com\/en\/tag\/qatar\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">Qatar<\/a>, which has been mediating negotiations, said that diplomatic efforts were ongoing but that no direct Iran-US talks were planned.<\/p>\n<p>Its leader, Sheikh Tamim bin Hamad Al-Thani, spoke with Trump by phone on Tuesday, with Doha saying they discussed &#8220;efforts to de-escalate tensions&#8221;.<\/p>\n<p>Trump had previously said he expected to know by Tuesday how the talks were going, &#8220;one way or the other&#8221;, but insisted &#8220;it&#8217;s not very complex&#8221;.<\/p>\n<p>Washington&#8217;s diplomatic goals include reopening Hormuz and the denuclearisation of Iran, which Trump accepted could &#8220;take a little while&#8221;.<\/p>\n<p>The president previously <a href=\"https:\/\/www.france24.com\/en\/middle-east\/20260802-live-trump-says-new-talks-with-iran-to-begin-monday-after-calling-off-strikes\" target=\"_self\">called Tehran &#8220;duplicitous&#8221;<\/a> for saying it was not negotiating, adding that a US counter-blockade of Iranian ports would remain &#8220;unless a Deal, or Total Surrender, is accomplished&#8221;.<\/p>\n<p>More than five months into a war that has cost Washington billions of dollars, Iran remains able to fire missiles and drones at US and allied targets in the region, as well as at commercial shipping.<\/p>\n<p>Early on Tuesday, Britain&#8217;s maritime security agency UKMTO said an unnamed cargo vessel had been struck by an &#8220;unknown projectile&#8221; in the Strait of Hormuz off the coast of Oman.<\/p>\n<p>Iran continues to impose an effective blockade on the strait and insists ships coordinate crossings with it.<\/p>\n<h2>Red Sea attack<\/h2>\n<p>The disruptions in Hormuz have only placed greater importance on <a href=\"https:\/\/www.france24.com\/en\/tag\/shipping\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">shipping<\/a> lanes through the Red Sea, where Iran-backed <a href=\"https:\/\/www.france24.com\/en\/tag\/houthi-rebels\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">Houthi rebels<\/a> in Yemen have declared a maritime blockade on Saudi Arabia.<\/p>\n<p>The Saudi Red Sea port of Yanbu has enabled it to keep up shipments to global markets by circumventing Hormuz entirely.<\/p>\n<p>But since the Houthis announced their blockade, they have claimed attacks on multiple ships they say are in violation.<\/p>\n<p>On Tuesday, the Indian ship MSV Faize Noore Oliya sank in the Red Sea off <a href=\"https:\/\/www.france24.com\/en\/tag\/yemen\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">Yemen<\/a> following an unattributed attack, with all of its crew rescued.<\/p>\n<p>The Red Sea is a gateway to the Suez Canal, and a previous campaign of Houthi attacks on commercial vessels during the Gaza war forced shippers to instead take lengthy detours around the southern tip of Africa.<\/p>\n<p><em>(FRANCE 24 with AFP)<\/em><\/p>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"o-sidebar\">\n<div class=\"o-sidebar__aside\">\n<div data-tms-ad-status=\"idle\" data-tms-ad-container class=\"o-ad-container o-ad-container--box o-ad-container--with-shimmer\">\n<div class=\"o-ad-container__content o-ad-container__content--report-enabled\">\n<div class=\"o-ad-container__label m-block-ad__label--report-enabled\">\n                    <span class=\"o-ad-container__label__text\">Advertising<\/span><br \/>\n                                            <button title=\"Report this ad\" class=\"o-ad-container__content__report-link\" data-tms-ad-report><\/p>\n<p>                        <\/button>\n                                    <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"t-content__tags t-content__below-sidebar\">\n<div class=\"m-section-title m-section-title--small\">Keywords for this article<\/div>\n<ul class=\"m-tags-list\">\n<li class=\"m-tags-list__tag\">\n                <a href=\"\/en\/tag\/usa\/\" class=\"a-hot-tag\" title=\"USA\">    USA<\/a>\n            <\/li>\n<li class=\"m-tags-list__tag\">\n                <a href=\"\/en\/tag\/iran\/\" class=\"a-hot-tag\" title=\"Iran\">    Iran<\/a>\n            <\/li>\n<li class=\"m-tags-list__tag\">\n                <a href=\"\/en\/tag\/iran-conflict\/\" class=\"a-hot-tag\" title=\"Iran war\">    Iran war<\/a>\n            <\/li>\n<\/ul><\/div>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Advertising US says Iran Hormuz deal could come &#8216;today or tomorrow&#8217; as oil prices plunge&#8230;<\/p>\n","protected":false},"author":0,"featured_media":3868,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-3867","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-middle-east"],"_links":{"self":[{"href":"https:\/\/www.arabnewsmonitor.com\/index.php?rest_route=\/wp\/v2\/posts\/3867","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.arabnewsmonitor.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.arabnewsmonitor.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.arabnewsmonitor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3867"}],"version-history":[{"count":1,"href":"https:\/\/www.arabnewsmonitor.com\/index.php?rest_route=\/wp\/v2\/posts\/3867\/revisions"}],"predecessor-version":[{"id":3869,"href":"https:\/\/www.arabnewsmonitor.com\/index.php?rest_route=\/wp\/v2\/posts\/3867\/revisions\/3869"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.arabnewsmonitor.com\/index.php?rest_route=\/wp\/v2\/media\/3868"}],"wp:attachment":[{"href":"https:\/\/www.arabnewsmonitor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.arabnewsmonitor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.arabnewsmonitor.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}