US Treasury Secretary Scott Bessent said Washington could reach an agreement with Iran to reopen the Strait of Hormuz by Wednesday. He added that such a deal would help stabilise global energy prices.
Speaking to CNBC on Tuesday, Bessent said negotiations with Iran were continuing. He expressed optimism that both sides could reach an agreement within days.
“We are in talks with the Iranians,” Bessent said. He added that a deal could help move the conflict toward a more normalised position.
Bessent Expects Free Navigation
Bessent rejected suggestions that Iran would charge shipping vessels using the strategic waterway. Instead, he said any agreement would ensure freedom of movement through the Strait of Hormuz.
His remarks echoed comments made by US President Donald Trump a day earlier. Trump also suggested the waterway could reopen soon after easing threats of military action against Iran.
However, Iran’s Foreign Ministry denied that negotiations with Washington were taking place. The conflicting statements have created uncertainty over the diplomatic process.
Energy Markets Watch Developments
Meanwhile, an unidentified projectile struck a cargo ship in the Strait of Hormuz on Tuesday. The incident highlighted ongoing security concerns in the region.
Despite recent tensions, Bessent said ships have continued leaving the waterway. Therefore, he expects energy prices to ease if a diplomatic agreement is reached.
He added that reopening the vital shipping route would benefit the global economy by improving stability in international energy markets.
