US President Donald Trump has indicated that Washington and Tehran are engaged in discussions aimed at restoring normal shipping operations in the Strait of Hormuz by Tuesday, August 4.
The comments, reported by TASS, suggest a diplomatic breakthrough is imminent after weeks of heightened tensions in the critical waterway.
The prospect of a reopened Strait carries significant implications for global energy markets.
Brent crude has traded at elevated levels as traders priced in the risk of supply disruptions from the chokepoint.
A confirmed reopening would likely trigger a sharp repricing of that risk premium, potentially easing pressure on oil prices and freight rates.
This development follows earlier statements from President Trump, who previously declared that a diplomatic agreement with Iran had been signed and asserted that the Strait would be fully reopened by Friday.