US could have deal with Iran by tomorrow, says senior Trump admin. official

Secretary Scott Bessent says a deal with Iran that could open the Strait of Hormuz is on the verge of being reached, potentially as soon as Wednesday.

By World Israel News Staff

U.S. Treasury Secretary Scott Bessent said Tuesday that Washington could reach an agreement with Iran within the next day to reopen the Strait of Hormuz and move toward de-escalating the five-month conflict.

“We are in talks with the Iranians,” Bessent told CNBC. “I think there is a chance we may have a deal today or tomorrow to open the strait.”

Bessent’s comments represented one of the most optimistic assessments yet from the Trump administration, although Iran has continued to deny that it is engaged in direct negotiations with the U.S.

President Donald Trump said Monday that discussions were already underway at the request of Iran and several Gulf states.

“They are going on right now,” Trump told reporters at the White House. “This is a last chance for them to sign a good document.”

Trump made the remarks after canceling what he described as “massive attacks” against Iran over the weekend, saying Saudi Arabia, Qatar and the United Arab Emirates had asked him to give diplomacy more time.

Iranian Foreign Ministry spokesman Esmail Baghaei disputed the U.S. account, saying no talks with Washington were taking place and no Iranian negotiating team was scheduled to travel abroad. Baghaei said Tehran’s only active negotiations concerned an arrangement with Oman for managing traffic through the Strait of Hormuz.

Qatar said Tuesday that it was continuing to work with Pakistan and Oman to facilitate negotiations, including the exchange of draft proposals between the U.S. and Iran. The mediation efforts helped raise expectations that an interim arrangement could be reached even without publicly acknowledged direct talks.

The Strait of Hormuz has remained the central obstacle to ending the war. The narrow passage carried roughly one-fifth of global oil and liquefied natural gas supplies before fighting began in late February, but Iran has blocked most commercial traffic through the waterway while the U.S. has maintained a naval blockade of Iranian ports and shipping.

Bessent said he had seen “quite a few” ships leaving the strait, but shipping data indicated that traffic remained far below normal. Only six vessels passed through the waterway Monday, compared with more than 100 on a typical peacetime day.

Negotiators remain divided over how the waterway would operate under a temporary agreement.

A senior Iranian source involved in the Oman talks said Tehran wants authority over ships entering the Gulf through Iranian waters, as well as information about vessels leaving through an outbound route overseen by Oman. Iran would also retain the ability to intervene when it believes its security is threatened.

The source described that framework as “the general idea currently being discussed” and said, “Tehran is unlikely to change its position.”

Iran initially sought control over traffic moving in both directions but has since accepted the possibility that departing ships could receive clearance through Oman after notifying Tehran, according to the source.

Washington has insisted on freedom of navigation and rejects any arrangement giving Iran the power to levy tolls, select which vessels may pass or exercise permanent control over an international shipping route.

The two sides also disagree over the meaning of a memorandum signed in June in an attempt to halt the war. The U.S. says the document required Iran to restore ordinary shipping through Hormuz, while Tehran says it preserved Iranian authority over traffic in its territorial waters. The agreement later unraveled amid renewed attacks.

Bessent’s prediction came hours after another cargo vessel was struck near the strait, underscoring the danger to commercial shipping even as diplomatic efforts intensified.

The dry bulk ship reported being hit by an unidentified projectile approximately 20 nautical miles northeast of Al Khasab, Oman. Its crew abandoned the vessel, and one sailor was reported missing, according to maritime sources and the UK Maritime Trade Operations agency.

No group immediately claimed responsibility for the attack.

Oil markets nevertheless reacted strongly to the latest diplomatic signals. Brent crude fell nearly 4% to about $80.66 a barrel Tuesday, while U.S. West Texas Intermediate dropped more than 4% to roughly $76.76. Both benchmarks reached their lowest levels since July 13.