US Treasury Secretary Scott Bessent has indicated that Washington and Tehran are close to finalizing an agreement to reopen the Strait of Hormuz, with a deal potentially struck as early as Tuesday or Wednesday.
In an interview, Bessent confirmed that active talks are underway with Iranian counterparts to restore "freedom of movement" through the critical waterway.
The comments mark a significant escalation in diplomatic efforts to resolve the shipping disruption that has weighed on global energy markets.
Bessent’s timeline aligns with earlier indications from US President Donald Trump, who previously stated that discussions aimed at restoring normal shipping operations were targeting a resolution by Tuesday, August 4.
The convergence of signals from both the Treasury and the White House suggests a coordinated push to de-escalate tensions in the corridor.
For market participants, the prospect of a swift resolution offers a potential catalyst for easing risk premiums embedded in energy and shipping assets.