Senior Trump administration official: "A deal with Iran on Hormuz possible as early as tomorrow"

US Treasury Secretary Scott Bessent said in an interview with the news network CNBC that an agreement with Iran on shipping in the Strait of Hormuz is possible as early as the next 24 hours.

"We saw President Donald Trump last week threaten what would have been the largest military campaign since World War II against the Iranians, and now, thanks to that, we are in talks with the Iranians. I think there is a chance we will have a deal today or tomorrow to open the strait," the Treasury Secretary told the media.

When asked if Iran would be allowed to collect a toll, the Treasury Secretary confirmed that the deal would ensure freedom of movement. "It will be freedom of movement," said Bessent. "Although things are still a bit dangerous there in the last few days, we have already seen quite a few ships leaving." US crude oil futures fell by about 4% to a price of under 77 dollars per barrel following the minister's remarks.

"Talks are progressing"

US President Donald Trump announced yesterday the opening of the Strait of Hormuz to traffic as early as tomorrow and warned that this is the "last chance" for the Iranians to reach an agreement with the US. Referring to the Iranian denial of the talks, Donald Trump stated:

"The talks are happening now, they are not denying it now. But for some reason, when they talk, they don't like to say they are talking. Sometimes they deny it even when they spend hours upon hours in talks."

Earlier today, the Iranian Foreign Ministry denied that direct or indirect talks were taking place with Washington.

"The talks are continuing, we were about to hit them harder than any attack since WWII, it's quite big, and we were ready, and they called, and in addition to them Saudi Arabia, the Emirates, Qatar, a number of people, I don't want to use the word 'begging' but they said they didn't want to be hit," said the President.

"We are talking to them now at the request of Iran, with the backing of Saudi Arabia, the Emirates and Qatar, and others too. Almost all of them called in one way or another, and they all wanted to give this a last chance. This is a last chance for them to sign a good document," said Donald Trump, referring to the talks.